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Explaining the Labor Force Participation of Women 20-24

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Abstract

Between about the mid 1960s and the late 1970s there was a remarkable rise in the labor force participation of women and then a leveling off that has persisted through the mid 1990s. This paper attempts to explain the labor force participation of women 20-24 over this period. A "relative income" variable is constructed based on Easterlin's (1980) relative income hypothesis, and this is found to be an important explanatory variable. Easterlin's "cohort wage" hypothesis is also used in the analysis. The basic equation estimated does very well in various tests that were performed on it, and it appears to explain well the rapid rise and then leveling off of the labor force participation of young women.

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File URL: http://cowles.econ.yale.edu/P/cd/d11a/d1116.pdf
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Bibliographic Info

Paper provided by Cowles Foundation for Research in Economics, Yale University in its series Cowles Foundation Discussion Papers with number 1116.

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Length: 24 pages
Date of creation: Mar 1996
Date of revision:
Handle: RePEc:cwl:cwldpp:1116

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Web page: http://cowles.econ.yale.edu/
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Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA

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  1. Welch, Finis, 1979. "Effects of Cohort Size on Earnings: The Baby Boom Babies' Financial Bust," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages S65-97, October.
  2. Fair, Ray C & Dominguez, Kathryn M, 1991. "Effects of the Changing U.S. Age Distribution on Macroeconomic Equations," American Economic Review, American Economic Association, vol. 81(5), pages 1276-94, December.
  3. Andrews, Donald W K & Ploberger, Werner, 1994. "Optimal Tests When a Nuisance Parameter Is Present Only under the Alternative," Econometrica, Econometric Society, vol. 62(6), pages 1383-1414, November.
  4. Schapiro, M.O., 1988. "Socio-Economic Effects Of Relative Income And Relative Cohort Size," Department of Economics Working Papers 113, Department of Economics, Williams College.
  5. O'Neill, June A, 1981. "A Time-Series Analysis of Women's Labor Force Participation," American Economic Review, American Economic Association, vol. 71(2), pages 76-80, May.
  6. Killingsworth, Mark R. & Heckman, James J., 1987. "Female labor supply: A survey," Handbook of Labor Economics, in: O. Ashenfelter & R. Layard (ed.), Handbook of Labor Economics, edition 1, volume 1, chapter 2, pages 103-204 Elsevier.
  7. Thomas Mroz, . "The Sensitivity of an Empirical Model of Married Women's Hours of Work to Economic and Statistical Assumptions," University of Chicago - Population Research Center 84-8, Chicago - Population Research Center.
  8. Barbara Devaney, 1983. "An analysis of variations in U. S. fertility and female labor force participation trends," Demography, Springer, vol. 20(2), pages 147-161, May.
  9. Hansen, Lars Peter, 1982. "Large Sample Properties of Generalized Method of Moments Estimators," Econometrica, Econometric Society, vol. 50(4), pages 1029-54, July.
  10. Blau, Francine D & Grossberg, Adam J, 1991. "Real Wage and Employment Uncertainty and the Labor Force Participation Decisions of Married Women," Economic Inquiry, Western Economic Association International, vol. 29(4), pages 678-95, October.
  11. Macunovich, D.J., 1996. "Relative Income and Price of Time: Exploring their effcts on U.S. Fertility and Female Labor Force Participation, 1963-1993," Department of Economics Working Papers 174, Department of Economics, Williams College.
  12. Diane J. Macunovich, 1995. "The Butz-Ward Fertility Model in the Light of More Recent Data," Journal of Human Resources, University of Wisconsin Press, vol. 30(2), pages 229-255.
  13. Michael L. Wachter, 1977. "Intermediate Swings in Labor-Force Participation," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 8(2), pages 545-576.
  14. Wachter, Michael L, 1972. "A Labor Supply Model for Secondary Workers," The Review of Economics and Statistics, MIT Press, vol. 54(2), pages 141-51, May.
  15. Smith, James P & Ward, Michael P, 1985. "Time-Series Growth in the Female Labor Force," Journal of Labor Economics, University of Chicago Press, vol. 3(1), pages S59-90, January.
  16. Finis Welch, 1979. "Effects of Cohort Size on Earnings: The Baby Boom Babies' Financial Bust," UCLA Economics Working Papers 146, UCLA Department of Economics.
  17. Butz, William P & Ward, Michael P, 1979. "The Emergence of Countercyclical U.S. Fertility," American Economic Review, American Economic Association, vol. 69(3), pages 318-28, June.
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Cited by:
  1. Diane J. Macunovich, 1999. "The fortunes of one's birth: Relative cohort size and the youth labor market in the United States," Journal of Population Economics, Springer, vol. 12(2), pages 215-272.
  2. Macunovich, D.J., 1996. "Cohort Size Effects on US Enrollment Decisions," Williams Project on the Economics of Higher Education DP-36, Department of Economics, Williams College.
  3. Diane Macunovich, 1999. "The Baby Boom As It Ages: How Has It Affected Patterns of Consumptions and Savings in the United States?," Center for Policy Research Working Papers 7, Center for Policy Research, Maxwell School, Syracuse University.

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