Kwon, Illoong; Milgrom, Eva Meyersson; Hwang, Seiwoon - In: Journal of Human Resources 45 (2010) 3
This paper studies the long-term effects of the business cycle on workers’ future promotions and wages. Using the Swedish employer-employee matched data, we find that a cohort of workers entering the labor market during a boom gets promoted faster and reaches higher ranks. This procyclical...