If the loops are moved closer to and farther from the magnets in exactly the same way then the emf generated around the wooden loop is equal to the emf generated around the wire loop.
Electromotive force (emf) can be described as the electric potential that is produced by either changing the magnetic field or is produced by an electrochemical cell.
The emf generated around the wooden loop is equal to the emf generated around the wire loop because Faraday's law is only concerned about how the flux is changing and is therefore independent of the material involved. The loop material is not involved in the magnetic flux expression, so an emf is generated anyhow as long as it experiences a change in magnetic flux since it moves near the end of the bar magnet, changing the magnetic flux through the loop.
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