Women, Wealth Effects, and Slow Recoveries
| Autor: | Jon Steinsson, Emi Nakamura, Masao Fukui |
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| Rok vydání: | 2018 |
| Předmět: | |
| DOI: | 10.3386/w25311 |
| Popis: | Business cycle recoveries have slowed in recent decades. This slowdown comes entirely from female employment: as women’s employment rates converged towards men’s over the course of the past half-century, the growth rate of female employment slowed. But does the slowdown in the growth of female employment rates translate into a slowdown for overall employment rates? The degree to which women “crowd out” men in the labor market is a sufficient statistic for this question. We estimate the extent of crowding out across states, and find that it is small. We then develop a general equilibrium model of the female convergence process featuring home production and show that our cross-sectional crowding out estimate provides a powerful diagnostic statistic for aggregate crowding out. Our model implies that 60-75% of the slowdown in recent business cycle recoveries can be explained by female con-vergence. |
| Databáze: | OpenAIRE |
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