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The Hog Cycle of Law Professors: An Econometric Time Series Analysis of the Entry-Level Job Market in Legal Academia.
- Source :
-
PLoS ONE . 7/28/2016, Vol. 11 Issue 7, p1-22. 22p. - Publication Year :
- 2016
-
Abstract
- The (German) market for law professors fulfils the conditions for a hog cycle: In the short run, supply cannot be extended or limited; future law professors must be hired soon after they first present themselves, or leave the market; demand is inelastic. Using a comprehensive German dataset, we show that the number of market entries today is negatively correlated with the number of market entries eight years ago. This suggests short-sighted behavior of young scholars at the time when they decide to prepare for the market. Using our statistical model, we make out-of-sample predictions for the German academic market in law until 2020. [ABSTRACT FROM AUTHOR]
- Subjects :
- *ECONOMETRICS
*ECONOMICS
*TIME series analysis
*LAW teachers
Subjects
Details
- Language :
- English
- ISSN :
- 19326203
- Volume :
- 11
- Issue :
- 7
- Database :
- Academic Search Index
- Journal :
- PLoS ONE
- Publication Type :
- Academic Journal
- Accession number :
- 117065130
- Full Text :
- https://doi.org/10.1371/journal.pone.0159815