This paper examines the long-term earnings consequences of permanent layoffs initiated during the early 1990s, using a sample of Massachusetts workers who enrolled in Job Training Partnership Act Title III programs, and who remained strongly attached to the state's labor force. The comparison...

A considerable body of economics research has described and investigated the educational wage premium-the degree to which highly educated workers are paid more than less educated workers. The payoff to education has risen steeply in recent decades and accounts for a significant fraction of the...