Discussion Paper

Are College Towns Recession Proof?


Abstract: Research universities bring a variety of benefits to their surrounding communities such as a supply of highly skilled graduates, innovation via research and development activities, and a large stable employer. But do research universities make their communities resilient to economic downturns? In a recent working paper, we attempt to answer this question by examining the unemployment rates for counties containing state flagship universities over the past three national recessions.

Keywords: recession; college; business cycle; unemployment;

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Provider: Federal Reserve Bank of Richmond

Part of Series: Regional Matters

Publication Date: 2024-09-19