ABOUT RETHINKING MACROECONOMICS

The Rethinking Macroeconomics Working Group is bringing gender dimensions into macroeconomic models, particularly in the case of care provisioning.  Researchers in the Rethinking Macroeconomics Cluster are working to modify existing macroeconomic models (e.g. overlapping generations, Keynesian, and Post-Keynesian models) to incorporate unpaid and paid care of children, the sick, disabled and the elderly in order to examine gendered impacts of specific economic policies on employment, inequality, and growth. They will draw insights for the structure of the model from the work of the other groups in the project.  The models will then be used to identify the channels through which economic policies affect or ignore the provision of care and traces the economic and distributional outcomes in the short run and in the longer run.  These new, cutting edge macromodels will demonstrate that care is economically important and help us better understand and more effectively model the links between care and standard economic variables and concerns.