Workshops

ミクロ経済学ワークショップ
Microeconomics Workshop 2020

 

 

※ 特に表記のない限りセミナー発表は英語で行われます(Unless otherwise mentioned, presentations are in ENGLISH)。

※ 2020年7月29日現在。近い予定から順に掲載しています。

Zoomを利用したオンライン開催について (Online Seminars Using Zoom) 

 

当面の間、本ワークショップはZoom を利用してオンラインで開催されます。 以下の注意事項を必ずご確認のうえご準備をお願いいたします。

Microeconomics Workshop is held online using Zoom for the time being. Please read the following instruction for participation.

  

※ 登録 (Registration)

事前登録が必須となります。 下記よりご登録頂けますと、 ミーティングURLがemailで送付されます。 事前に、ご利用の端末にZoomアプリケーションのインストールをお済ませください。 (Zoomアカウントをお持ちの方は、emailにあるID, パスワードを使ってサインインして頂くことも可能です。)

Registration is required to join a seminar. Please register in advance at the following website so that detailed information containing meeting URL will be provided via email.  Please make sure to install ZOOM Cloud Meetings (application)on your computer or cell phone in advance. (If you have a Zoom account, sign-up using ID and password included in the email is also available.)

https://zoom.us/meeting/register/tJwtceGhrzMpHtZ8GucmpPdvrWzSi7Gf2sdT

参加までの手順は下記より事前にご確認ください。 For more details, please see the following website.

日本語 ・ English

※ 注意 (Note)

1) 参加者名には、ご自分の氏名をお使い下さい。 Please register your full name when you participate.

2) 登録は初回のみ。すでにご登録されている方は、登録時にご案内済みのミーティングURLまたはミーティングID、パスワードでご入室頂けます。ただし、共催セミナーの場合、URLが変わる場合がありますのでお気をつけください。

Those who already registered previously need not register again. You can join the following meetings with the same meeting URL or the meeting ID as the one you received. Please note that the meeting URL will be changed when the seminar is hosted by another workshop.

 

※ セミナー中 (During Seminars)

ご自身の音声は、質疑応答時を除き、OFFにしてください。 Please mute your microphone during a speaker's talk except for Q&A session.

音声OFFの手順 (Muting Participants in Zoom)

日本語 ・ English

 

日時

※ 修士論文報告会 Master's Thesis Presentations ※

2020年7月28日(火 Tuesday)10:00-13:00

2020年8月4日(火 Tuesday)10:00-12:00

Registration

Zoomを使ったオンラインでの開催(事前登録制)となります。詳細は本ウェブサイト上部の説明をご確認ください。 

This seminar is held online (registration is required). Please read the instruction at the top of this website for details.

※ すべての発表は同じZoomミーティング内で行われます。  All presentations are held using same Meeting ID. 

報告 7月28日

10:00-10:30 Ying Ye (Readers: 中林, 田中, 川田)

 

10:30-11:00 Yang Huang (Readers: 中林, 田中, 川田)

 

11:00-11:30 Yuchen He (Readers: 中林, 田中, 近藤)

 

11:30-12:00 Yiwen Fan (Readers: 川田, 近藤, 中林)

 

12:00-12:30 Lianqing Li (Readers: 高崎, 川口, 川田)

 

12:00-12:30 Yuanyuan Zhou (Readers: 近藤, 中林, 川口)

 

 

 

8月4日

10:00-10:30 Qianmao Zhu (Readers: 松井, 尾山, 神取)

 

10:30-11:00 Yining Song (Readers: 近藤, 川田, 田中)

 

11:00-11:30 Xinyu Wang (Readers: 近藤, 田中, 川田)

 

11:30-12:00 Xuancheng Peng (Readers: 佐々木, 大橋, 若森)

 

日時 Applied Economics Workshop

2020年7月30日(木 Thursday)

※ Hong Kong University of Science and Technology, National University of Singapore, and National Taiwan University と共催

Registration

Zoom Webinar を使ったオンラインでの開催(事前登録制)となります。参加をご希望の方は、下記ウェブサイトよりご登録下さい。 

This seminar is held online using Zoom Webinar (registration is required). Please register at the following website for participation.

https://sites.google.com/view/economicseminar/home

※ Instructions for Attendees

報告

Keynote Seminar

Simon Loertscher (University of Melbourne)

Recent Evidence on Intergenerational Mobility: Health, Wealth, and More

Moderator: Kohei Kawaguchi (HKUST)

Abstract  
Organizer Stacey Chen

 

日時

※This seminar has been cancelled. 本ワークショップは中止となりました。

2020年9月8日(火 Tuesday)10:25-12:10

※共催:ミクロ実証分析ワークショップ, Tokyo Workshop on International and Development Economics (TWID)

報告 Seema Jayachandran (Northwestern University)
TBA
Organizer Yoshito Takasaki

 

日時 Applied Economics Workshop

2020年9月24日(木 Thursday)

※ Hong Kong University of Science and Technology, National University of Singapore, and National Taiwan Universityと共催

Registration

Zoom Webinar を使ったオンラインでの開催(事前登録制)となります。参加をご希望の方は、下記ウェブサイトよりご登録下さい。 

This seminar is held online using Zoom Webinar (registration is required). Please register at the following website for participation.

https://sites.google.com/view/economicseminar/home

※ Instructions for Attendees

報告

Keynote Seminar

Dávid Krisztián Nagy (CREI)

TBA

Moderator: Kohei Kawaguchi (HKUST)

Abstract  
Organizer Stacey Chen

 

日時

2020年9月29日(火 Tuesday)10:25-12:10

 

場所 東京大学大学院経済学研究科 学術交流棟 (小島ホール)1階 第1セミナー室
in Seminar Room 1 on the 1st floor of the Economics Research Annex (Kojima Hall) [Map]

報告 Zvika Neeman (Tel Aviv University)
TBA
Abstract  
Organizer Taiji Furusawa

 

日時

2020年10月22日(木 Thursday)10:25-12:10

※日時に注意

※主催: マクロ経済学ワークショップ

場所 東京大学大学院経済学研究科 学術交流棟 (小島ホール)1階 第1セミナー室
in Seminar Room 1 on the 1st floor of the Economics Research Annex (Kojima Hall) [Map]

報告 山田 憲(Ken Yamada) (Kyoto University)
TBA
Abstract  
Organizer Sagiri Kitao

 

日時 Applied Economics Workshop

2020年10月27日(火 Thuesday)

※ Hong Kong University of Science and Technology, National University of Singapore, and National Taiwan University と共催

Registration

Zoom Webinar を使ったオンラインでの開催(事前登録制)となります。参加をご希望の方は、下記ウェブサイトよりご登録下さい。 

This seminar is held online using Zoom Webinar (registration is required). Please register at the following website for participation.

https://sites.google.com/view/economicseminar/home

※ Instructions for Attendees

報告

Keynote Seminar

David Deming (Harvard University)

TBA

Moderator: Jie Gong (National University of Singapore)

Abstract  
Organizer Stacey Chen

 

日時

2020年10月30日(金 Friday)10:30-12:00

※日時に注意
※主催:ミクロ実証分析ワークショップ

場所 東京大学大学院経済学研究科 学術交流棟 (小島ホール)1階 第1セミナー室
in Seminar Room 1 on the 1st floor of the Economics Research Annex (Kojima Hall) [Map]

報告 Daniel Hamermesh (Barnard College)
TBA
Abstract  
Organizer Daiji Kawaguchi

 

日時 Applied Economics Workshop

2020年11月17日(火 Thuesday)

※ Hong Kong University of Science and Technology, National University of Singapore, and National Taiwan University と共催

Registration

Zoom Webinar を使ったオンラインでの開催(事前登録制)となります。参加をご希望の方は、下記ウェブサイトよりご登録下さい。 

This seminar is held online using Zoom Webinar (registration is required). Please register at the following website for participation.

https://sites.google.com/view/economicseminar/home

※ Instructions for Attendees

報告

Keynote Seminar

Joel Waldfogel (University of Minnesota)

Digitization and Pre-Purchase Information: The Causal and Welfare Impacts of Reviews and Crowd Ratings [paper]

Moderator: Tiffany Tsai (National University of Singapore)

Abstract Digitization has led to product proliferation, straining traditional institutions for product discovery; but digitization has also spawned crowd-based rating systems. We compare the relative impacts of professional critics and crowd-based Amazon star ratings on consumer welfare in book publishing. We assemble data on daily Amazon sales ranks, star ratings, and prices for thousands of books in 2018, along with information on their professional reviews in several major outlets. Using various fixed effects and discontinuity-based empirical strategies, we estimate that a New York Times review raises estimated sales by 78 percent during the first five days following a review; and the elasticity of sales with respect to an Amazon star is about 0.75. We use these causal estimates to calibrate structural models of demand for measuring the welfare impact of pre-purchase information in a way that respects the distinction between ex ante and ex post utility. The aggregate effect of star ratings on consumer surplus is roughly 15 times the effect of traditional review outlets. Crowd-based information now accounts for the vast majority of pre-purchase information, but the absolute effects of professional reviews have not declined over time.
Organizer Stacey Chen

 

日時 Applied Economics Workshop

2020年12月8日(火 Thuesday)

※ Hong Kong University of Science and Technology, National University of Singapore, and National Taiwan University と共催

Registration

Zoom Webinar を使ったオンラインでの開催(事前登録制)となります。参加をご希望の方は、下記ウェブサイトよりご登録下さい。 

This seminar is held online using Zoom Webinar (registration is required). Please register at the following website for participation.

https://sites.google.com/view/economicseminar/home

※ Instructions for Attendees

報告

Keynote Seminar

Martha Bailey (University of Michigan)

Prep School for Poor Kids': The Long-Run Impact of Head Start on Human Capital and Productivity [paper]

Moderator: Jessica Pan (National University of Singapore)

Abstract This paper evaluates the long-run effects of Head Start using large-scale, restricted 2000-2013 Census-ACS data linked to date and place of birth in the SSA’s Numident file. Using the county-level rollout of Head Start between 1965 and 1980 and state age-eligibility cutoffs for school entry, we find that participation in Head Start is associated with increases in adult human capital and economic self-sufficiency, including a 0.29-year increase in schooling, a 2.1-percent increase in high-school completion, an 8.7-percent increase in college enrollment, and a 19-percent increase in college completion. These estimates imply sizable, long-term returns to investing in large-scale preschool programs.
Organizer Stacey Chen

 

日時 Applied Economics Workshop

2021年2月25日(木 Thursday)

※ Hong Kong University of Science and Technology, National University of Singapore, and National Taiwan University と共催

Registration

Zoomを使ったオンラインでの開催(事前登録制)となります。詳細は本ウェブサイト上部の説明をご確認ください。 

This seminar is held online (registration is required). Please read the instruction at the top of this website for details.

報告

Keynote Seminar

Yves Zenou (Monash University)

TBA

Moderator: Joseph Tao-yi Wang (National Taiwan University) and Yasutora Watanabe (The University of Tokyo)

Abstract  
Organizer Yasutora Watanabe

 

日時 Applied Economics Workshop

2021年3月9日(火 Thuesday)

※ Hong Kong University of Science and Technology, National University of Singapore, and National Taiwan University と共催

Registration

Zoom Webinar を使ったオンラインでの開催(事前登録制)となります。参加をご希望の方は、下記ウェブサイトよりご登録下さい。 

This seminar is held online using Zoom Webinar (registration is required). Please register at the following website for participation.

https://sites.google.com/view/economicseminar/home

※ Instructions for Attendees

報告

Keynote Seminar

Amy Finkelstein (Massachusetts Institute of Technology (MIT))

TBA

Moderator: Albert Park (Hong Kong University of Science and Technology (HKUST))

Abstract  
Organizer Stacey Chen

 

日時 Applied Economics Workshop

2021年4月13日(火 Tuesday)

※ Hong Kong University of Science and Technology, National University of Singapore, and National Taiwan University と共催

Registration

Zoomを使ったオンラインでの開催(事前登録制)となります。詳細は本ウェブサイト上部の説明をご確認ください。 

This seminar is held online (registration is required). Please read the instruction at the top of this website for details.

報告

Keynote Seminar

Gordon Dahl (University of California, San Diego)

TBA

Moderator: Ayako Kondo(The University of Tokyo)

Abstract  
Organizer Ayako Kondo

 

日時

2021年4月19日(月 Monday)10:30-12:00

※日時に注意

※主催:ミクロ実証分析ワークショップ

場所 東京大学大学院経済学研究科 学術交流棟 (小島ホール)1階 第1セミナー室
in Seminar Room 1 on the 1st floor of the Economics Research Annex (Kojima Hall) [Map]

報告 Wojciech Kopczuk (Columbia University)
TBA
Abstract  
Organizer Drew Griffen

 

日時 Applied Economics Workshop

2021年5月11日(火 Thuesday)

※ Hong Kong University of Science and Technology, National University of Singapore, and National Taiwan University と共催

Registration

Zoom Webinar を使ったオンラインでの開催(事前登録制)となります。参加をご希望の方は、下記ウェブサイトよりご登録下さい。 

This seminar is held online using Zoom Webinar (registration is required). Please register at the following website for participation.

https://sites.google.com/view/economicseminar/home

※ Instructions for Attendees

報告

Keynote Seminar

Mark Duggan (Stanford Institute for Economic Policy Research (SIEPR))

TBA

Moderator: Joseph Tao-yi Wang (National Taiwan University) and Stacey Chen (The University of Tokyo)

Abstract  
Organizer Stacey Chen

 

日時 Applied Economics Workshop

2021年8月31日(火 Thuesday)

※ Hong Kong University of Science and Technology, National University of Singapore, and National Taiwan University と共催

Registration

Zoomを使ったオンラインでの開催(事前登録制)となります。詳細は本ウェブサイト上部の説明をご確認ください。 

This seminar is held online (registration is required). Please read the instruction at the top of this website for details.

報告

Keynote Seminar

Jesse Rothstein (UC-Berkeley)

TBA

Moderator: Joseph Tao-yi Wang (National Taiwan University) and Stacey Chen (The University of Tokyo)

Abstract  
Organizer Stacey Chen

 

日時 Applied Economics Workshop

2021年9月28日(火 Thuesday)

※ Hong Kong University of Science and Technology, National University of Singapore, and National Taiwan University と共催

Registration

Zoom Webinar を使ったオンラインでの開催(事前登録制)となります。参加をご希望の方は、下記ウェブサイトよりご登録下さい。 

This seminar is held online using Zoom Webinar (registration is required). Please register at the following website for participation.

https://sites.google.com/view/economicseminar/home

※ Instructions for Attendees

報告

Keynote Seminar

Benjamin Olken (Massachusetts Institute of Technology)

TBA

Moderator: Albert Park (Hong Kong University of Science and Technology (HKUST))

Abstract  
Organizer Stacey Chen

 


<本年度終了分>

日時

2020年6月2日(火 Tuesday)10:25-12:10

Registration

Zoomを使ったオンラインでの開催(事前登録制)となります。詳細は本ウェブサイト上の説明をご確認ください。 

This seminar is held online (registration is required). Please see the instruction at the top of this website for details.

報告

Bruno Strulovici (Northwestern University)

Crime Aggregation, Deterrence, and Witness Credibility [paper]

Abstract We present a model for the equilibrium frequency of offenses and the informativeness of witness reports when potential offenders can commit multiple offenses and witnesses are subject to retaliation risk and idiosyncratic taste shocks. We compare several ways of handling multiple accusations discussed in legal scholarship. (i) When accusations are aggregated to determine the probability that the defendant committed at least one unspecified offense and conviction entails severe punishment, witness reports are arbitrarily uninformative and offenses are frequent in equilibrium. Offenders induce negative correlation in witnesses’ private information, which causes information aggregation to fail. (ii) When accusations are treated separately to adjudicate guilt and conviction entails severe punishment, witness reports are highly informative and offenses infrequent in equilibrium.
Organizer Akihiko Matsui

 

日時

2020年6月9日(火 Tuesday) 10:25-12:10  
※主催:マクロ経済学ワークショップ

場所

本セミナーはZoomを使ったオンラインでの開催(事前登録制)となります。

注意:6/9セミナー(マクロ経済学ワークショップ主催)の参加登録は下記URLよりお願いいたします (通常と異なりますのでお気を付けください)。

This seminar is held online using Zoom (registration is required).

Attention: Please register at the website below for the seminar on June 9, organized by Macroeconomics Workshop. (Please note that the URL is different than usual.)

https://zoom.us/meeting/register/tJMrfu6oqjwrG9SZKHg-CnZC0Al6xhP__TZw

報告

齊藤 有希子 (Yukiko Saito) (Waseda University)
資料1. Indirect Trade and Direct Trade:Evidence from Japanese firm transaction data [paper]

資料2. Indirect Exports and Wholesalers:Evidence from interfirm transaction network data [paper]

(Japan and the World Economy, Volume 44, December 2017, pp. 35-47)

Abstract  
Organizer Sagiri Kitao

 

日時

2020年6月12日(金 Friday)15:30 ~ 17:00

※ 主催:東京労働経済学研究会、日時に注意

Presentation in Japanese

場所

本セミナーはZoomを使ったオンラインでの開催(事前登録制)となります。詳細は下記をご参照ください。

https://sites.google.com/site/tokyolaborwkshp/home

報告

報告者1:川田恵介 ( Keisuke Kawata) (The University of Tokyo)

 

報告者2:大竹文雄(Fumio Ohtake) (Oska University)

Abstract  
Organizer Ayako Kondo

 

日時

2020年6月16日(火 Tuesday)10:25-12:10

Registration

Zoomを使ったオンラインでの開催(事前登録制)となります。詳細は本ウェブサイト上部の説明をご確認ください。 

This seminar is held online (registration is required). Please read the instruction at the top of this website for details.

報告

松島斉 (Hitoshi Matsushima) (The University of Tokyo)

Mechanism Design with Blockchain Enforcement (joint with Shunya Noda) [paper]

Abstract We study the design of self-enforcing mechanisms that rely on neither a trustedthird party (e.g., court, trusted mechanism designer) nor a long-term relationship.Instead, we use a smart contract written on blockchains as a commitment device.We design thedigital court, a smart contract that identifies and punishes agents whoreneged on the agreement. The digital court substitutes the role of legal enforcementin the traditional mechanism design paradigm. We show that, any agreement thatis implementable with legal enforcement can also be implemented with enforcementby the digital court. To pursue a desirable design of the digital court, we study away to leverage truthful reports made by a small fraction of behavioral agents. Ourdigital court has a unique equilibrium as long as there is a positive fraction of behavioralagents, and it gives correct judgment in the equilibrium if honest agents are more likelyto exist than dishonest agents. The platform for smart contracts is already ready in2020; thus, self-enforcing mechanisms proposed in this paper can be used practically,even now. As our digital court can be used for implementing general agreements, itdoes not leak the detailed information about the agreement even if it is deployed on apublic blockchain (e.g., Ethereum) as a smart contract.
Organizer Taiji Furusawa

 

日時

2020年6月23日(火 Tuesday)10:25-12:10

Registration

Zoomを使ったオンラインでの開催(事前登録制)となります。詳細は本ウェブサイト上部の説明をご確認ください。 

This seminar is held online (registration is required). Please read the instruction at the top of this website for details.

報告

Wen-Tai Hsu (Singapore Management University)

Innovation, Firm Size Distribution, and Gains from Trade (joint with Yi-Fan Chen and Shin-Kun Peng) [paper]

Abstract Unlike most trade models with firm heterogeneity which assume power-law distri-butions, we derive power laws in a rather general environment in a general-equilibriumtrade model. We do so by allowing firms to determine their productivities in an inno-vation stage in an otherwise standard Melitz (2003) model. We show that equilibriumproductivity and firm-size distributions exhibit power-law tails under general condi-tions on demand and innovating technology. Moreover, the emergence of the powerlaws is consistent with general underlying primitive heterogeneity among firms. Weinvestigate the model’s welfare implications and conduct a quantitative analysis ofwelfare gains from trade. We find that conditional on the same trade elasticity andvalues of the common parameters, our model yields 40% higher welfare gains fromtrade than a standard model with exogenously given productivity distribution.
Organizer Taiji Furusawa

 

日時 Applied Economics Workshop

2020年6月30日(火 Tuesday)8:30-11:00

※ Hong Kong University of Science and Technology, National University of Singapore, and National Taiwan University と共催

Registration

Zoom Webinar を使ったオンラインでの開催(事前登録制)となります。参加をご希望の方は、下記ウェブサイトよりご登録下さい。 

This seminar is held online using Zoom Webinar (registration is required). Please register at the following website for participation.

https://sites.google.com/view/economicseminar/home

※ Instructions for Attendees

報告

8:30 am (Tokyo Time)

AEW Working Paper Discussion

1) Nina Guyon (National University of Singapore)

New Peers From The Ghetto: Trickle-Down Effects of Public Housing Demolitions On Receiving Schools

 

2) Yu Qin (National University of Singapore)

Migration Restrictions and the Labor Market Outcomes of Migrants: Evidence from the 2014 Hukou Reform in China (joint with Lei An, Jing Wu and Wei You)

 

9:30- Keynote Seminar

Sandra E. Black (Columbia University)

Recent Evidence on Intergenerational Mobility: Health, Wealth, and More

Chief Moderator: Jessica Pan (National University of Singapore)

Abstract  
Organizer Stacey Chen

 

日時

2020年6月30日(火 Tuesday)10:25-12:10

Registration

Zoomを使ったオンラインでの開催(事前登録制)となります。詳細は本ウェブサイト上部の説明をご確認ください。 

This seminar is held online (registration is required). Please read the instruction at the top of this website for details.

報告

諸岡千裕 (Chihiro Morooka) (The University of Tokyo)

A New Folk Theorem in OLG Games [paper]

Abstract In this study, we analyze the model of general n-person overlapping generations games. It is assumed that players strictly discount the future at a common rate and that the dimension of feasible one-shot payoffs with individual rationality is equal to n. In contrast to previous researches, this study shows that players can obtain payoffs outside the feasible set of one-shot games.
Organizer Akihiko Matsui

 

日時

2020年7月7日(火 Tuesday)10:25-12:10

Registration

Zoomを使ったオンラインでの開催(事前登録制)となります。詳細は本ウェブサイト上部の説明をご確認ください。 

This seminar is held online (registration is required). Please read the instruction at the top of this website for details.

報告

Syngjoo Choi(Seoul National University)

Large Scale Experiments on Networks: A New Platform with Applications[paper]

Abstract We present a new platform for large scale networks experiments in continuous time and conduct three experiments on it: groups range from 8 all the way to 100 subjects. These experiments involve pure linking games as well as games with linking and public goods provision.

The major finding is that subjects create sparse networks that are almost always highly efficient. In some cases networks have a very unequal distribution of connections and exhibit small average distances, while in others subjects create equal and dispersed large distance networks. In some cases highly connected nodes earn vastly more while in other cases they earn significantly less than their less connected cohort. Informational overload helps in explaining why highly connected nodes make excessive investments but earn less than the spokes.  

Organizer Ryuichi Tanaka

 

日時

2020年7月10日(金 Friday)14:00 ~ 17:00

※ 主催:東京労働経済学研究会、日時に注意

Presentation in Japanese

場所

本セミナーはZoomを使ったオンラインでの開催(事前登録制)となります。詳細は下記をご参照ください。

https://sites.google.com/site/tokyolaborwkshp/home

報告

報告者1:明日山陽子(Yoko Asuyama) (Waseda University)

なぜ日本には「面白い仕事」が少ないのか?


報告者 2:湯川志保(Shiho Yukawa) (Teikyo University)

性別役割意識の固着化,子どもの性別は親の政策支持と性別役割意識にどのような影響を与えるか

Abstract  
Organizer Ayako Kondo

 

日時

2020年7月14日(火 Tuesday)10:25-12:10

Registration

Zoomを使ったオンラインでの開催(事前登録制)となります。詳細は本ウェブサイト上部の説明をご確認ください。 

This seminar is held online (registration is required). Please read the instruction at the top of this website for details.

報告

Xiaojian Zhao (Monash University)

Economics of Motivated Cognition and Emotion: Shame, Guilt and Self-Confidence (joint with Roberta Dessi and Junjie Ren)

Abstract The available evidence from anthropology, psychology and economics shows that sensitivity to the emotion of shame and guilt varies across cultures. So does the tendency to exhibit a different psychological incentive mechanism: overconfidence. Shame and guilt have been portrayed as motivational mechanisms to enforce cooperation. This paper investigates how reliance on guilt versus shame interacts with overconfidence. We find that overconfidence and guilt are typically complementary, whereas shame can be a substitute for overconfidence. The paper also studies the model's predictions using data on differences in self-confidence and in shame and guilt sensitivity across countries, as well as individual-level data on migrants.
Organizer Yasutora Watanabe

 

日時

2020年7月21日(火 Tuesday)10:25-12:10

Registration

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報告

Hyelim Son (University of Seoul)

The Long-Term Effects of Labor Market Entry in a Recession: Evidence from the Asian Financial Crisis [paper]

Abstract This study investigates the long-term effects of initial labor market conditions by comparing cohorts who graduated from college before, during, and after the 1997–1998 Asian financial crisis in South Korea. We measure the overall welfare effect by examining their labor market activities, family formation, and household finances. Using data from 20 waves of the Korean Labor and Income Panel Study, we find a substantial and persistent reduction in employment, earnings, marriage, fertility, and asset building among men who graduated during the recession. For women, limited job opportunities at graduation resulted in an increase in childbearing. We also find evidence that family provides a risk-sharing mechanism for recession graduates. Our results suggest that labor market entry in a large-scale recession has prolonged effects on a young worker's life course even after the penalties in the labor market have disappeared.
Organizer Ayako Kondo