【Macro Seminar】Aging, Mobility, and the Erosion of Bargaining Power
2026/08/25
研討會日期 : 2026-08-25
時間 : 14:30
主講人 : Professor C. Y. Kelvin Yuen (袁卓爾)
地點 : Conference Room B110
主持人 : Professor Terry Cheung
演講者簡介 : Dr. C. Y. Kelvin Yuen received his Ph.D. in Economics from Washington University in St. Louis in 2021. He is currently an Assistant Professor of Urban Governance and Design at the Hong Kong University of Science and Technology (Guangzhou). His research interests are Macroeconomics, Labor Economics, and Entrepreneurship.
演講摘要 : This paper studies how workforce aging shapes mobility and bargaining. U.S. industry-level evidence shows that aging reduces employer-to-employer (EE) flows, job creation, and the labor share, while individual-level evidence shows that wage gains from EE flows decline with age. We develop a general-equilibrium life-cycle search model with on-the-job search and endogenous bargaining. Aging explains half the 1995–2015 labor-share decline. The shift in workforce composition toward older workers accounts for 40% of this effect, while the remaining 60% reflects the resulting decline in vacancy creation responses by firms. Vacancy subsidies and moderate unemployment-benefit cuts substantially restore the labor share.
