The Department of Economics invites you to a Macro, Risk and Sustainability Seminar with Valeria Rueda, University of Nottingham.
This paper investigates the human cost of industrial decline. Using longitudinal data following two UK cohorts born in 1958 and 1970, we estimate the lifelong effects of being exposed to pit closures during childhood on health and economic outcomes. Those exposed to the shock as children have worse health throughout life, and this effect transmits over generations. They are also raised in less privileged economic conditions and accumulate less wealth as adults. We also uncover that migration is an imperfect mitigation strategy. These findings highlight that industrial decline has long-lasting consequences imperfectly mitigated by access to better opportunities.