Women, Wealth Effects, and Slow Recoveries

Masao Fukui, Emi Nakamura and Jón Steinsson

No 25311, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Business cycle recoveries have slowed in recent decades. This slowdown comes entirely from female employment: as women’s employment rates converged towards men’s over the course of the past half-century, the growth rate of female employment slowed. But does the slowdown in the growth of female employment rates translate into a slowdown for overall employment rates? The degree to which women “crowd out” men in the labor market is a sufficient statistic for this question. We estimate the extent of crowding out across states, and find that it is small. We then develop a general equilibrium model of the female convergence process featuring home production and show that our cross-sectional crowding out estimate provides a powerful diagnostic statistic for aggregate crowding out. Our model implies that 60-75% of the slowdown in recent business cycle recoveries can be explained by female con-vergence.

JEL-codes: E24 E32 J21 (search for similar items in EconPapers)
Date: 2018-11
New Economics Papers: this item is included in nep-dge, nep-lma and nep-mac
Note: EFG LS ME
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Citations: View citations in EconPapers (8)

Published as Masao Fukui & Emi Nakamura & Jón Steinsson, 2023. "Women, Wealth Effects, and Slow Recoveries," American Economic Journal: Macroeconomics, vol 15(1), pages 269-313.

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Journal Article: Women, Wealth Effects, and Slow Recoveries (2023)
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