PARENTALCAREGIVING AND HOUSEHOLD POWER DYNAMICS
As populations continue to age in many countries, the demand for eldercare likewise continues to increase. Unpaid, informal workers—i.e. family members like adult children—provide much of this care.
Options for modeling the distributional impact of care policies using a general equilibrium (cge) framework
Economy-wide models are insightful in assessing alternative approaches to provide and finance care policies. CGE models are an example of such tools and is the focus of the Care Work and the Economy working paper 20-03. CGE models represent the functioning of an entire economy, in which the researcher specifies the decision-making processes of households and firms and applies the model to detailed empirical data.
MICROFINANCE AND THE CARE ECONOMY
Microfinance encompasses small loans provided to low-income individuals to start small enterprises and has been touted as endgame in development policy for tackling poverty while also promoting women’s empowerment. Yet its effects on the care-economy and wider macro-economy are not well understood.
THE EFFECTS OF PUBLIC SOCIAL INFRASTRUCTURE AND GENDER EQUALITY ON OUTPUT AND EMPLOYMENT: THE CASE OF SOUTH KOREA
This paper extends the model introduced in Onaran, Oyvat, and Fotopoulou (2019) to analyze the effects of the gender pay gap and public spending in education, childcare, and social care on aggregate output and employment in South Korea.1 Analysis of the South Korean case shows that a combination of labor market and fiscal policies is necessary to achieve sustainable, equitable development with substantial increases in employment. For complete details of the model and discussion of related literature, please see the full working paper published to the Care Work and the Economy website here.
ESTIMATING THE ROLE OF SOCIAL REPRODUCTION IN ECONOMIC GROWTH
This paper develops a conceptual macroeconomic model of growth and social reproduction. It emphasizes how norms and preferences around care provision interact with the structure of the macroeconomy to influence outcomes. Model predictions are tested to understand how distributions of production and reproduction among women, men, the state, and capital affect the dynamics of economic growth. For complete details of the model and discussion of related literature, please see the full working paper published to the Care Work and the Economy website here
ACCESS TO INFRASTRUCTURE, WOMEN’S TIME ALLOCATION, AND ECONOMIC GROWTH
This paper emphasizes the relationship between access to infrastructure and women’s time allocations between home production, child-rearing, and the labor market by developing a simple two-period, gender-based overlapping generations (OLG) model. These time-allocation decisions are shown to influence significantly the growth outcomes in low-income developing countries. For complete details of the model and discussion of related literature, please see the full working paper published to the Care Work and the Economy website here
ENDOGENOUS GROWTH, POPULATION DYNAMICS, AND RETURNS TO SCALE: LONG-RUN MACROECONOMICS WHEN DEMOGRAPHY MATTERS
Demographics and returns to scale (decreasing, constant, or increasing) matter when modeling long-run economic growth. Research demonstrates that family size decisions respond to economic conditions and the resulting fertility outcomes collectively drive population growth (or shrinkage). For complete details of the model and discussion of related literature, please see the full working paper published to the Care Work and the Economy website here.
Gendering Macroeconomic Analysis and Development: A Theoretical Model for Gender Equitable Development
The CWE-GAM team presents an engendered macroeconomic model as a tool to analyze the role of gender equality and fiscal policy on growth and development. The model incorporates realistic structural features of a market economy –such as excess production capacity and involuntary unemployment– and incorporates an unpaid reproductive sector as well as the physical and social sectors in the public and private market economy. The addition of the unpaid reproductive sector explicitly incorporates the provision of domestic care, establishing a more holistic representation of how the workforce is kept fed, healthy, and able to work. This three-sector model is designed to serve as a tool for policy analysis and gender-responsive budgeting to develop a policy mix targeted toward more gender-equitable development. This brief provides a general overview of the model and example policy analyses. For complete details of the model and discussion of related literature, please see the full working paper published to the Care Work and the Economy website here
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