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Gender differences in the effect of monetary policy on employment: The case of nine OECD countries

Author

Listed:
  • Takhtamanova, Yelena

    (Reserve Bank of San Francisco)

  • Sierminska, Eva

    (CEPS/INSTEAD and DIW Berlin)

Abstract

In many countries, the focus of monetary policy is increasingly shifting to low and stable inflation as it provides many benefits to the economy. However, there is evidence that costs of inflation reduction are inequitably distributed by gender in developing countries. This paper addresses employment costs of inflation reduction in developed countries. Using quarterly data for 1980-2006, we examine gender and country differences in the effects of interest rate on employment in nine OECD countries. We look at total employment, as well as employment dis-aggregated by three sectors: agriculture, industry and services. We find that the link between monetary policy instruments (short-term interest rates) and employment in the industrial countries under investigation is neither strong nor varies by gender.

Suggested Citation

  • Takhtamanova, Yelena & Sierminska, Eva, 2008. "Gender differences in the effect of monetary policy on employment: The case of nine OECD countries," IRISS Working Paper Series 2008-04, IRISS at CEPS/INSTEAD, revised Jun 2008.
  • Handle: RePEc:irs:iriswp:2008-04
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    File URL: http://iriss.ceps.lu/documents/irisswp88.pdf
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    Cited by:

    1. Sohn, Christophe & Reitel, Bernard & Walther, Olivier, 2009. "Cross-border metropolitan integration in Europe (Luxembourg, Basel and Geneva)," IRISS Working Paper Series 2009-02, IRISS at CEPS/INSTEAD.

    More about this item

    Keywords

    employment ; IS curve ; interest rates ; monetary policy inflation ; compensation;

    JEL classification:

    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • J2 - Labor and Demographic Economics - - Demand and Supply of Labor

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