Topic:Long-term Impact of Exposure to a Financial Crisis in Early Career Life

Lecturer:

Yonghong Zhou is a professor at the School of Finance at City University of Macau. The research direction is economic growth and development, with a focus on the impact of international relations, politics, culture, conflicts on the economy, as well as the Hong Kong and Macao issues in recent years.In the European Journal of PoliticaI Economy、Technological Forecasting and Social Change, China Economic Review、Empirical Economics、Economics of Transition and Institutional Change, Review of Development Economics, Defense and Peace Economics, Economics (quarterly), China's industrial economy, statistical research and other domestic and foreign journals published papers. Preside over the National Natural Science Fund, Guangdong Natural Science Foundation, Macao Foundation and other topics. Experiences in reviewing manuscripts include Economics of Transition and Institutional Change, Review of Development Economics, Pacific Economic Review、Journal of Asian Economics, R&D Management、Urban Studi8S、Economic Science (quarterly), quantitative economic, technological and economic research, economic newspapers, etc.

Abstract:

External shock in early life may have a long-term impact on individual behavior. However, different stages of early life are related to the form ation of different preferences and attitudes. This paper focuses on an individual's early career life, a period of wealth concept formation. Based on the seventh wave of the World Values Survey (2017-2021), we find that individuals who experienced the subprime crisis of 2008- 2009 between the ages of 21 and 30 tend to exhibit greater satisfaction with their financial condition implying a so called attitude of“Nothing can make me more dissatisfied. This paper provides new evidence on the criticality of early career life from the perspective of the understanding of wealth,which has not significantly formed in earlier stages such as pregnancy, preschool, and elementary education.

Time: April 19,2024 15:30-17:00

Venue: B321,Zhixin Building ,Central Campus