publication . Article . 2016

Effects of entering adulthood during a recession

Dettling, Lisa;
Open Access English
  • Published: 01 Jan 2016
  • Publisher: Bonn: Institute for the Study of Labor (IZA)
Abstract
Current cohorts of young adults entered adulthood during an international labor and housing market crisis of a severity not experienced since the Great Depression. Concerns have arisen over the impacts on young adults’ employment, income, wealth, and living arrangements, and about whether these young adults constitute a “scarred generation” that will suffer permanent contractions in financial well-being. If true, knowing the mechanisms through which young adults’ finances have been affected has important implications for policy measures that could improve the financial well-being of today’s young adults in the present and future.
Subjects
free text keywords: D14, E24, J13, young adults, net worth, home ownership, unemployment, income, parental co-residence, Great Recession, ddc:330
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