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Events Details

​High Youth Unemployment Volatility: A Risk-based Explanation

Event Date & Time: 19-Sep-2017 1030hrs - 1200hrs
Venue: Executive Seminar Room 4 (S3.1-B1-06)
Contact Information:

​Chairperson:   Asst Prof Lei Zhang

 
Abstract

We quantitatively analyse a heterogenous agent equilibrium model of search and matching in the presence of persistent aggregate shocks. In our model, employers learn about an unobservable component to a worker's productivity from performance. Our model makes two predictions. First, we show that accounting for realistic variation in discount rates is important to generate the quantitatively large differences in employment dynamics between young and old workers in the data. Second, our model predicts a higher sensitivity of the unemployment rate of young workers in high beta industries compared to low beta industries. We test this cross-sectional prediction and find support for it in the data.
 
About the speaker

Yu Xu is an Assistant Professor of Finance at the University of Hong Kong. He received his PhD in Finance from MIT Sloan in 2015. He is interested in Asset Pricing, Credit Risk, International Finance, Labour, and Macro-Finance.
 
Venue Website: http://maps.ntu.edu.sg/maps#q:S3.1%20Executive%20Seminar%20Room%204
 
For registration, further information and enquiries, please contact Florence at amlcher@ntu.edu.sg or telephone: 67906354.

Nanyang Business School, Nanyang Technological University, Block S3, 50 Nanyang Avenue, Singapore 639798 www.ntu.edu.sg

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