Seminar on an Agenda for Labor Economics Research in an Uncertain World

At the seminar hosted by the Journal of Asian Business and Economic Studies (JABES), University of Economics Ho Chi Minh City (UEH), on January 21st, 2021, more than 30 international scholars from Asian countries came together to discuss new opportunities, challenges, and directions for Asian management researchers amid the raging COVID-19 pandemic.

Labor economics is a broad topic, covering many aspects of the economy, referring to social issues such as employment, salary, marriage, childbirth, inequality, migration... 2020 is a year full of fluctuations for the economy, especially the labor market due to the impact of the COVID-19 pandemic.

The COVID-19 outbreak has created unprecedented challenges and opportunities that affect the future development of the economy. Government policies to limit the spread of COVID-19 have a significant effect on each country's economy. Hence, scenarios and projections related to countries’ economic and business impacts need to be considered following the COVID-19 pandemic outbreak. The conference on "Economics and Business: Agendas for the Uncertain World" includes a series of seminars related to economics and business, to guide research in the midst of the ongoing global uncertainty (namely COVID-19 pandemic).

JABES Seminar Talks (JST 2021) in January with the topic: An Agenda for Labor Economics Research in an Uncertain World presented by Professor Kevin Lang - guest attending as a speaker - was the first seminar in the conference series held on January 21st, 2021, at the University of Economics Ho Chi Minh City (UEH). The event attracted more than 60 online guests and nearly 20 guests related to economics and business to turn up at the meeting.

The scene of delegates attending the seminar

Opening the seminar, MSc. Huynh Luu Duc Toan, representative of the Journal of Asian Business and Economic Studies, stated the reason and context of the conference regarding the topic of opportunities and challenges for economic management in Asian economy context.

MSc. Huynh Luu Duc Toan stated the reason for organizing JST 2021.

Coming to the seminar, Professor Kevin Lang explained the topic "Labor Economics Research in an Uncertain World". Professor Kevin Lang is currently a professor of Economics at Boston University (USA), concurrently being a research committee member of the National Bureau of Economic Research and at the same time being the new President of the Society of Labor Economists. Professor Kevin Lang is also the Editor-in-Chief of the Journal of Labor Economics.

Professor Kevin Lang greeted delegates attending the JST 2021 Seminar.

Professor Kevin Lang said that labor economics is a critical foundation because it refers to essential parts of the economy, explaining many issues employment, salary, marriage, childbirth, inequality, migration... Professor found gaps in empirical research on issues such as usury, drug trafficking, the US labor market under racism...

Accordingly, the current issues related to labor economics are: Will increasing the minimum wage reduce family income inequality or not? Will rewarding teachers for testing student achievement increase or decrease the quality of education? Requesting job severance allowance will increase or decrease job opportunities?

To analyze problems in labor economics, Professor Kevin Lang uses the Causal Inference method, often called the reduced approach or the natural test method; In many studies, Professor Kevin has applied the Medical Model, the Policy Simulation Model. By providing examples suitable for each model, as well as analyzing the impact of the COVID-19 vaccination program on people close to 65 years of age, he commented that each has their own pros and cons, some policies cannot be judged by existing data or valid experiment, and their effectiveness may depend on our theoretical choices or may depend on parameters that are difficult to estimate.

At the end of the discussion at the seminar, Professor Kevin said that researchers should use their own national data to analyze problems related to labor economics based on empirical research papers of countries. From there, based on the obtained results, better solutions are needed to supplement and improve government policies. The ability to get access to data, understanding of institutions and policies will help experts create analytical models that can solve social problems stemming from labor economics.

The seminar took place successfully, orienting research issues related to labor economics in the unstable context of the global economy.

Some photos at the JST 2021 seminar: