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Table 2.
Mass Layoffs and Two-Year First-Time College Enrollment
(1)(2)(3)(4)(5)
Layoffs, t − 1 0.288*** 0.0210** 0.0195** 0.0244** 0.0249** 
 (0.0292) (0.0093) (0.0097) (0.0095) (0.0104) 
Layoffs, t − 2 0.128*** 0.00855 0.00555 0.0160** 0.0179** 
 (0.0118) (0.0070) (0.0068) (0.0071) (0.0080) 
Layoffs, t − 3 0.174*** −0.0262*** −0.0261*** −0.0118 −0.0106 
 (0.0168) (0.0089) (0.0093) (0.0083) (0.0078) 
Total effect 0.5907*** 0.0034 −0.001 0.0286 0.0323* 
 (0.0489) (0.0180) (0.0180) (0.0176) (0.0194) 
Y-mean 2,138.1 2,138.1 2,138.1 2,138.1 2,138.1 
Observations 6,882 6,882 6,882 6,882 6,882 
R2 0.612 0.957 0.958 0.979 0.978 
CZ fixed effects  
Year fixed effects  
Demographics    
CZ trends    
(1)(2)(3)(4)(5)
Layoffs, t − 1 0.288*** 0.0210** 0.0195** 0.0244** 0.0249** 
 (0.0292) (0.0093) (0.0097) (0.0095) (0.0104) 
Layoffs, t − 2 0.128*** 0.00855 0.00555 0.0160** 0.0179** 
 (0.0118) (0.0070) (0.0068) (0.0071) (0.0080) 
Layoffs, t − 3 0.174*** −0.0262*** −0.0261*** −0.0118 −0.0106 
 (0.0168) (0.0089) (0.0093) (0.0083) (0.0078) 
Total effect 0.5907*** 0.0034 −0.001 0.0286 0.0323* 
 (0.0489) (0.0180) (0.0180) (0.0176) (0.0194) 
Y-mean 2,138.1 2,138.1 2,138.1 2,138.1 2,138.1 
Observations 6,882 6,882 6,882 6,882 6,882 
R2 0.612 0.957 0.958 0.979 0.978 
CZ fixed effects  
Year fixed effects  
Demographics    
CZ trends    

Notes: Outcome variable is log first-year full time enrollment. The first column just includes lags of log mass layoffs; the second column adds commuting zone (CZ) and year fixed effects. Column 3 adds controls for the age distribution, racial makeup, and share male of the CZ, and column 4 adds CZ-specific trends. The sum of the effects is at the bottom of the table. Standard errors are clustered at the commuting zone level.

*p < 0.10; **p < 0.05; ***p < 0.01.

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