"Study as if you were to live forever, live as if you were to die tomorrow." (Maria Mitchell)

I don't think there is a specific type of literature adolescents should or shouldn't read. It all depends on the individual and the context. For example, say a teacher gives his/her students an assignment or project that involves reading a novel from a list of available resources they can use. Even though the students have several options, their choices are essentially limited to what is on the list. What type of literature should be on the list? That also depends on the purpose of the project. Perhaps the class is working with issues that surround recent world tragedies such as the tsunami or floods, then the literature might include books such as Children of the Tsunami.
However, I would hope that students would not only choose to read literature for school purposes. Children should be motivated and encouraged to read outside of the classroom for their own pleasure. In such instances, they should have an unlimited amount of choices of what to read. Perhaps some kids really enjoy science fiction, then Harry Potter books would be great for them to read, or perhaps they are really into animals and find factual books such as this very interesting to them.
I really believe it directly depends on the child's interests, and most importantly, children should be allowed to choose what kind of literature they enjoy reading.
Of course I realize that in many instances some books may be inappropriate for adolescents to read (i.e passionate love novels, etc). Those exceptions can be left up to parents/guardians/teachers. However for the most part, it would be great to see an adolescent read outside of a classroom anyway. With all the virtual gaming that is available today, getting children to actually pick up a book is the first step.