The Impact Of Financial Crises On Youth Unemployment Rate
The impact of last financial crisis (2007-08) and subsequent global recession (2008-09) has been deeper on the weakest segments of the labour market. In this paper, the authors mainly focus on the extent and persistence of the impact of (past and last) financial crises on youth (15-24) unemployment rate. After a review of the existing (theoretical and empirical) literature on the determinants of youth unemployment rate in general and at the occurrence of economic crises, they present empirical estimations on the impact of past financial crises on young workers. They empirically investigate the relationship between financial crises and youth unemployment rate by employing fixed effects panel estimation on a large panel of countries (about 70) around the world for the period 1980-2005.