Stock market boom leads to mass job quitting, impacting labor supply.
The article explores how changes in the stock market can impact people's decision to work. It investigates whether a booming stock market leads to more people quitting their jobs. The researchers found that if the stock market suddenly drops, many people may reenter the job market to rebuild their savings, potentially causing short-term unemployment issues. They also discovered that people may not spend all their stock market gains on goods, but may also use the money to enjoy more leisure time.