CWE Research Team Prototype CGE Model Presented at the 21st Annual Conference on Global Economic Analysis
Hans Lofgren presented the first draft of “Care in an Aging East Asian Economy: Policies and impacts on households and labor markets” by CWE Researchers Hans Lofgren, Marzia Fontana, and Kijong Kim in Cartegena, Colombia at the 21st Annual Conference on Global Economic Analysis. Drawing on the emerging literature of gendered computable general equilibrium (CGE) analysis, the paper takes a first step toward an analysis of some of the gender-related challenges faced by aging high-income economies in East Asia (like Japan, South Korea, and Taiwan) in relation to care (of young and elderly) and time use. Its more specific purpose is to develop and test a prototype CGE model, accompanied by a stylized East Asian high-income country database. The model is designed for analysis of care policy with a focus on the expansion of care services for young and elderly, which may be provided by government and private services, and the distributional consequences this may have in terms of household wellbeing, inequality, and the incomes, employment, and time use for males and females. Compared to standard economic analysis, the model and the database is extended beyond GDP to cover leisure and household production of care and other services.