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Women, Wealth Effects, and Slow Recoveries

Author

Listed:
  • Fukui, Masao
  • Nakamura, Emi
  • Steinsson, Jón

Abstract

Business cycle recoveries have slowed in recent decades. This slowdown 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.(JEL D13, E24, E32, J16, J21)

Suggested Citation

  • Fukui, Masao & Nakamura, Emi & Steinsson, Jón, 2023. "Women, Wealth Effects, and Slow Recoveries," Department of Economics, Working Paper Series qt1kw6m761, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    • Handle: RePEc:cdl:econwp:qt1kw6m761
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    Keywords

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    JEL classification:

    • D13 - Microeconomics - - Household Behavior - - - Household Production and Intrahouse Allocation
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure

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