Journal Article

Resilience from the micro perspective

Justin Doran and Bernard Fingleton

in Cambridge Journal of Regions, Economy and Society

Volume 8, issue 2, pages 205-223
Published in print July 2015 | ISSN: 1752-1378
Published online March 2015 | e-ISSN: 1752-1386 | DOI: https://dx.doi.org/10.1093/cjres/rsv004
Resilience from the micro perspective

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  • Wages, Compensation, and Labour Costs
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Perhaps uniquely, we combine individual-level data from the American Community Survey 2005–2011 with aggregate data for small areas to examine the resilience of individuals’ wages to the 2008 economic crisis. A Mincer-type wage equation, incorporating market potential and employment density, is estimated, leading to a measure of resilience based on actual wages in 2011 and on a counterfactual obtained from our wage equation. We find that individuals living in areas with a higher level of market potential are more resilient, controlling for individual-level characteristics such as education and ethnicity, indicating that both individual-specific and place-specific factors are important.

Keywords: counterfactual; New Economic Geography; resilience; USA; Urban Economics; J31; P48

Journal Article.  8781 words.  Illustrated.

Subjects: Wages, Compensation, and Labour Costs ; Other Economic Systems

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