Rethinking Macroeconomics

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.

Meet Rethinking Macroeconomics Researchers

Pierre-Richard Agénor
Pierre-Richard Agénor
Hallsworth Professor - University of Manchester
Neha Bairoliya
Neha Bairoliya
Assistant Professor - University of Southern California
Elissa Braunstein
Elissa Braunstein
Professor of Economics - Colorado State University
Lídia Brun
Lídia Brun
Doctoral Student - Université Libre de Bruxelles
Nancy Folbre
Nancy Folbre
Director, Program on Gender and Care Work - Political Economy Research Institute, University of Massachusetts Amherst
Eurydice (Evrydiki) Fotopoulou
Eurydice (Evrydiki) Fotopoulou
Lecturer - Goldsmiths, University of London
Ignacio  Gonzalez Garcia
Ignacio  Gonzalez Garcia
Assistant Professor - American University
James Heintz
James Heintz
Andrew Glyn Professor of Economics - University of Massachusetts at Amherst
İpek İlkkaracan
İpek İlkkaracan
Professor - Istanbul Technical University (ITU)
Tom Masterson
Tom Masterson
Director of Applied Micromodeling and Research Scholar - Levy Economics Institute of Bard College
Emel Memis
Emel Memis
Professor - Ankara University
Ray Miller
Ray Miller
Assistant Professor of Economics - Colorado State University
Özlem Onaran
Özlem Onaran
Professor of Economics, Director of Greenwich Political Economy Research Centre - University of Greenwich
Cem Oyvat
Cem Oyvat
Lecturer in Economics - University of Greenwich
Srinivas Raghav
Srinivas Raghav
Lecturer Above The Bar - NUI, Galway
Daniele Tavani
Daniele Tavani
Associate Professor - Colorado State University
Ramaa Vasudevan
Ramaa Vasudevan
Associate Professor - Colorado State University
Ajit Zacharias
Ajit Zacharias
Senior Scholar and Director - Levy Economics Institute of Bard College

Rethinking Macroeconomics POSTS

A Gendered Social Accounting Matrix for South Korea

A social accounting matrix (SAM) is an economy-wide consistent representation of the payments in an economy, linking production, primary factors, and institutions (the latter often split into households, government, and the rest of the world). In the words of Round (2003), “it is a comprehensive, flexible, and dis-aggregated framework which elaborates and articulates the generation
Read More
A mother feeding a baby

Policy Analysis in a Macroeconomic Model of Social Reproduction

Since the 1990s, unpaid work and care have garnered increasing academic attention, creating the emerging fields of the economics of unpaid work and the study of “the care economy.” Most of the earlier work was oriented toward microeconomics, focusing on issues such as the household division of labor, subsistence production in developing countries, the substitution
Read More
Nurse holding an elderly patient's hand

Informal Caregiving, Family Power Dynamics, and Labor Market Rigidities

A growing concern in many countries is an aging population and an increase in the number of elderly in need of long-term care (LTC). However, the economic and welfare implications of LTC provision remain relatively understudied. One of the primary factors which complicates welfare analysis is that a bulk of elderly care is provided by
Read More
Ipek IIkaracan Presenting Paper at Conference

Impact of Investing in Social Care on Employment Generation, Time- and Income-Poverty and Gender Gaps: A Macro-Micro Policy Simulation for Turkey

CONTRIBUTORS İpek İlkkaracan, EMEL MEMIS, KIJONG KIM, TOM MASTERSON, and  Ajit Zacharias Feminist economists have long emphasized the recognition, reduction and redistribution of unpaid care work (the so-called 3R strategy) as a primary policy intervention towards closing of the gender economic gaps. Investing in a social care infrastructure is an important component of the 3R
Read More
Cem Oyvat presenting paper at conference

The Effects of Public Social Infrastructure and Gender Equality on Output and Employment: The case of South Korea

According to the Global Gender Gap Index of the World Economic Forum (2018), South Korea is one of the lowest ranked countries in the world in terms of “Economic Participation and Opportunity” (124th out of 149 countries) as of 2018. The Global Gender Gap Index also shows that South Korea ranks 88th in terms of
Read More