【Macro Seminar】Wealth, Job Search, and Labor Force Participation
2025/05/08
研討會日期 : 2025-05-08
時間 : 10:30
主講人 : Professor Ji-Woong Moon
地點 : Conference Room B110
主持人 : Professor Han Yang
演講者簡介 : Professor Ji-Woong Moon received his Ph.D. in Economics from Pennsylvania State University in 2020. He is currently an Assistant Professor at Chung-Ang University. His research interests are Macroeconomics, Labor Economics, and Search and Matching.
演講摘要 : We examine how Labor-Force Participation (LFP) margins influence unemployment through their interactions with wealth accumulation. For this, we construct a job search and matching model that incorporates incomplete financial markets and LFP decisions in general equilibrium. Aligning our model with U.S. labor market transition flows, we find that LFP margins are crucial in explaining the negative relationship between unemployment and wealth observed in micro-level data. Without LFP choices, this relationship turns positive, contradicting empirical findings. This disparity has significant policy implications for unemployment insurance design, as it shifts the balance between providing adequate insurance and avoiding disincentives for job seeking.
