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Erscheinungsjahr: 
2025
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 17938
Verlag: 
Institute of Labor Economics (IZA), Bonn
Zusammenfassung: 
This study examines the effects of timing of exposure to the Asian financial crisis on higher education and early labor market outcomes. We estimate a generalized difference-in-differences model exploiting variation in age at exposure and regional severity of the recession in South Korea. Using the Census and Youth Panel data, we find that individuals from hard-hit regions are less likely to attain a college education, tend to shift away from humanities to STEM majors, and have lower-quality first jobs, than their peers in the same cohort. These effects are more pronounced among individuals who experienced the recession at younger ages.
Schlagwörter: 
college major
college education
economic crisis
early labor market outcomes
JEL: 
E32
I21
J24
Dokumentart: 
Working Paper

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