Women, wealth effects, and slow recoveries
Files
First author draft
Date
2023-01-01
Authors
Fukui, Masao
Emi, Nakamura
Jon, Steinsson
Version
First author draft
OA Version
Citation
M. Fukui, N. Emi, S. Jon. 2023. "Women, Wealth Effects, and Slow Recoveries" American Economic Journal: Macroeconomics, Volume 15, Issue 1, pp.269-313.
Abstract
Business cycle recoveries have slowed in recent decades. This slow-down comes entirely from female employment, as women's employment rates converged toward men's during the past half-century. But does the slowdown in the growth of female employment rates translate into a slowdown for overall employment rates? We estimate the extent to which women "crowd out" men in the labor market across US states, and find that it is small. Through the lens of a general equilibrium model with home production, we show this statistic implies that 60–75 percent of the slowdown in recent business cycle recoveries can be explained by female convergence.
Description
License
© 2018 by Masao Fukui, Emi Nakamura, and Jón Steinsson. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source.