Initial placement --> future placement.

[currentstudent]

Originally Posted by asianeconomist

I am not entirely sure, but isn't there a myth relating to your placement being at a department with a ranking of "x-50" where x = Rank of your Econ PhD granting institution.

I've heard that and it seems reasonable accurate for the initial placement, but what happens afterwards?

[asianeconomist]

Thereafter, I guess it entirely depends on one's ability to do research. However, if you get your initial placement at a top place, then you will enjoy certain externalities in the form of better cohorts that you won't get elsewhere.