Table 8 The effect of the unemployment rate at entry on likelihood of having a valid wage

From: Differential effects of graduating during a recession across gender and race

	OLS		IV
	Men	Women	Men	Women
U at entry
White exp = 1–3	0.002 [0.004]	0.004 [0.004]	0.008 [0.009]	−0.002 [0.011]
White exp = 4–6	0.000 [0.003]	0.005 [0.004]	0.004 [0.006]	0.007 [0.008]
White exp = 7–9	0.002 [0.003]	0.007 [0.004]*	0.005 [0.006]	0.009 [0.008]
White exp = 10–12	−0.001 [0.003]	0.006 [0.005]	0.004 [0.006]	0.007 [0.009]
Black exp = 1–3	0.000 [0.006]	0.009 [0.007]	−0.01 [0.016]	0.047 [0.021]**
Black exp = 4–6	0.002 [0.005]	0.009 [0.007]	0.002 [0.011]	0.016 [0.014]
Black exp = 7–9	0.008 [0.005]	0.008 [0.006]	0.000 [0.011]	0.008 [0.014]
Black exp = 10–12	0.004 [0.005]	0.008 [0.006]	−0.015 [0.012]	−0.015 [0.015]
Highest grade completed	0.007 [0.002]***	0.034 [0.003]***	0.007 [0.003]***	0.035 [0.003]***
Age adjusted AFQT score	0.026 [0.005]***	0.035 [0.007]***	0.026 [0.005]***	0.041 [0.008]***
Observations	25,688	31,460	24,992	30,430
R-squared	0.09	0.13	0.09	0.13

Notes: The dependent variable takes one if the observation has a valid (positive) wage. Linear probability model with the same right hand side variables as the OLS regressions in Table 6; see notes for Table 6 ***, ** and * indicate statistically significant at the 1%. 5% and 10% level, respectively

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