Women, Wealth Effects, and Slow Recoveries / Masao Fukui, Emi Nakamura, Jón Steinsson.

Format:

Book

Author/Creator:

Fukui, Masao.

Contributor:

National Bureau of Economic Research.

Nakamura, Emi.

Steinsson, Jón.

Series:

Working Paper Series (National Bureau of Economic Research) no. w25311.

NBER working paper series no. w25311

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2018.

Summary:

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.

Notes:

Print version record

November 2018.