IDEAS home Printed from https://ideas.repec.org/p/iza/izadps/dp17938.html
   My bibliography  Save this paper

The Effects of Exposure to a Large-Scale Recession on Higher Education and Early Labor Market Outcomes

Author

Listed:
  • Choi, Eleanor J.

    (Hanyang University)

  • Hwang, Jisoo

    (Harvard University)

  • Son, Hyelim

    (University of Seoul)

Abstract

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.

Suggested Citation

  • Choi, Eleanor J. & Hwang, Jisoo & Son, Hyelim, 2025. "The Effects of Exposure to a Large-Scale Recession on Higher Education and Early Labor Market Outcomes," IZA Discussion Papers 17938, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp17938
    as

    Download full text from publisher

    File URL: https://docs.iza.org/dp17938.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    college major; college education; economic crisis; early labor market outcomes;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:iza:izadps:dp17938. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Holger Hinte (email available below). General contact details of provider: https://edirc.repec.org/data/izaaade.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.