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The Aggregate Implications of Gender and Marriage

Author

Listed:
  • Mariacristina De Nardi

    (UCL, Federal Reserve Bank of Chicago, CE)

  • Fang Yang

    (Louisiana State University)

  • Margherita Borella

    (Unversity of Torino)

Abstract

Wages, labor market participation, hours worked, and savings differ by gender and marital status. In addition, women and married people make up for a large fraction of the population and of labor market participants, total hours worked, and total earnings. For the most part, macroeconomists have been ignoring women and marriage in setting up structural models and by calibrating them using data on males only. In this paper we ask whether ignoring gender and marriage in both models and data implies that the resulting calibration matches well the key economic aggregates. We find that it does not and we ask whether there are other calibration strategies or relatively simple models of marriage that can improve the fit of the model to aggregate data.

Suggested Citation

  • Mariacristina De Nardi & Fang Yang & Margherita Borella, 2017. "The Aggregate Implications of Gender and Marriage," 2017 Meeting Papers 46, Society for Economic Dynamics.
    • Handle: RePEc:red:sed017:46
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    References listed on IDEAS

    as
    1. Shinichi Nishiyama, 2010. "The Joint Labor Supply Decision of Married Couples and the Social Security Pension System," Working Papers wp229, University of Michigan, Michigan Retirement Research Center.
    2. Richard Blundell & Monica Costa Dias & Costas Meghir & Jonathan Shaw, 2016. "Female Labor Supply, Human Capital, and Welfare Reform," Econometrica, Econometric Society, vol. 84, pages 1705-1753, September.
    3. Goda, Gopi Shah & Shoven, John B. & Slavov, Sita Nataraj, 2013. "Does widowhood explain gender differences in out-of-pocket medical spending among the elderly?," Journal of Health Economics, Elsevier, vol. 32(3), pages 647-658.
    4. Mariacristina De Nardi & Eric French & John B. Jones, 2010. "Why Do the Elderly Save? The Role of Medical Expenses," Journal of Political Economy, University of Chicago Press, vol. 118(1), pages 39-75, February.
    5. Gouveia, Miguel & Strauss, Robert P., 1994. "Effective Federal Individual Tax Functions: An Exploratory Empirical Analysis," National Tax Journal, National Tax Association;National Tax Journal, vol. 47(2), pages 317-339, June.
    6. Josep Pijoan-Mas, 2006. "Precautionary Savings or Working Longer Hours?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 9(2), pages 326-352, April.
    7. Gouveia, Miguel & Strauss, Robert P., 1994. "Effective Federal Individual Tax Functions: An Exploratory Empirical Analysis," National Tax Journal, National Tax Association, vol. 47(2), pages 317-39, June.
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    Cited by:

    1. Conesa, Juan Carlos & Costa, Daniela & Kamali, Parisa & Kehoe, Timothy J. & Nygard, Vegard & Raveendranathan, Gajen & Saxena, Akshar, 2017. "Macroeconomic Effects of Medicare," Staff Report 548, Federal Reserve Bank of Minneapolis.
    2. Borella, Margherita & De Nardi, Mariacristina & Yang, Fang, 2017. "Marriage-related policies in an estimated life-cycle model of households' labor supply and savings for two cohorts," CEPR Discussion Papers 12390, C.E.P.R. Discussion Papers.

    More about this item

    JEL classification:

    • D1 - Microeconomics - - Household Behavior
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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