Stanford University professor Hwido Imburns, co-recipient of this year's Nobel Prize in Economics, expressed his view that basic income does not have a significant impact on recipients' willingness to work.



According to APTN and others, Professor Imburns said at an online press conference held on the 11th local time, "We investigated the effects of a 'guaranteed' basic income on the labor market, including 500 lottery winners in Massachusetts. said to have studied.



Professor Imburns explained that if a lottery winner of $500,000, or 600 million won, receives an insurance premium of 30 million won a year for 20 years, this would be "very similar to guaranteed (basic) income".



A comparative study of lottery winners and non-winners studied the effect and causality of basic income on labor supply, working hours, and income.



As a result, "we see that [basic income] clearly has some effect on the supply of labor," said Imburns, "and it has made some difference for people with guaranteed incomes."



But Professor Imburns stressed that "a basic income didn't change very much how much work recipients worked," he said, adding that in his study, lottery winners did not appear to be happier than unwinners.



MIT Professor Joshua Angrist and UC Berkeley Professor David Card, who shared the Nobel Prize in Economics, also held an online conference.




Professor Card, who published a research paper that the minimum wage did not have a negative effect on employment, urged him to pay more attention to the methodology rather than the conclusion of his past research at the conference.



"The most important thing we've drawn from our study is that we don't necessarily need to raise the minimum wage as everyone thinks," Card said. "It allows us to focus on other ways of thinking about how wages are set.



"Basically, it's true that higher wages will lower employers' earnings even if they don't affect employment," he said. "There is a fundamental balance between worker wages and employers' interests."



"The conclusion was somewhat controversial at the time," said Professor Card, who drew attention for a comparative study of New Jersey and neighboring Pennsylvania that did not raise the minimum wage in 1992. ' They denounced us as if it was a scandal about research," he recalled.



(Photo = Stanford University YouTube channel, UC Berkeley homepage capture, Yonhap News)