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Gender, Care and Heterodox Macroeconomic Modeling

Paper Session

Saturday, Jan. 6, 2018 2:30 PM - 4:30 PM

Loews Philadelphia, Adams
Hosted By: Union for Radical Political Economics & International Association for Feminist Economics
  • Chair: Elissa Braunstein, Colorado State University

Social Reproduction, Gender Equality and Economic Growth

Elissa Braunstein
,
Colorado State University
Rachid Bouhia
,
United Nations Conference on Trade and Development
Stephanie Seguino
,
University of Vermont

Abstract

This paper begins by developing a conceptual macroeconomic model of growth and social reproduction that allows the definition of a set of stylized set of regimes for how the two interrelate. We then empirically estimate these regimes for a wide cross-section of both developing and developed countries over the period 1991-2015, though data choices are primarily geared towards capturing developing country structures. The goal is to evaluate the contradictions and complementarities embedded in systems of growth and social reproduction, as well as how these systems change over time. The resulting portrait identifies how accounting for care illuminates the promise and pitfalls of increasing gender equality in the labor market through wages or employment participation.

Overlapping Generations and Reproductive Labor

James Heintz
,
University of Massachusetts-Amherst
Nancy Folbre
,
University of Massachusetts-Amherst

Abstract

Unpaid labor in the household both produces goods and services for consumption and represents an investment in human beings. Standard macroeconomic measures of living standards, consumption, and investment fail to take this into account. This paper presents an over-lapping generations (OLG) growth model in which production is redefined to include the contribution of unpaid labor. In addition to recognizing the production of non-market goods and services, the model incorporates unpaid care for children as an investment in human beings and their capabilities. By treating labor as a produced factor of production, fertility becomes endogenous in the long-run growth process. Decisions at the household level reflect cost, benefits, and motivations that are not fully reflected in market prices. These externalities, combined with incomplete information, generate coordination problems that impact the long-run trajectory of the market and non-market economy.

Unpaid Care Work, Distribution of Income and Macroeconomic Regimes

Srinivas Raghavendra
,
National University of Ireland Galway

Abstract

The aim of this paper is to provide a theoretical framework to analyse the link between unpaid labour and the macroeconomy, particularly to the rate of surplus generation. Here, we extend the Kaleckian framework to study the link between unpaid labour and the distribution of income at the aggregate level. Furthermore, the paper investigates the relationship between unpaid labour and distribution of income in various aggregate demand regimes and highlight the consequences for unpaid labour in these aggregate demand regimes. The results reveal interesting implications for class conflict in various aggregate demand regimes and also suggest interesting insight into understanding the preservation of patriarchy under capitalism.

The Effect of Fiscal Policy and Gender Equality on Growth and Employment: A Post-Kaleckian Feminist Demand-led Growth Model

Ozlem Onaran
,
University of Greenwich
Cem Oyvat
,
University of Greenwich

Abstract

In this paper, we examine the macroeconomic effects of fiscal policy and gender wage inequalities by developing a post-Kaleckian feminist demand-led growth model. We explore the impact of public spending in social infrastructure on female and male employment, aggregate demand and labour productivity in the long term. Higher public investment in social infrastructure changes the composition of employment in favour of women, since the female employment share in the social sector is greater compared to the rest of economy. Furthermore, the public investment in social infrastructure improves the labour productivity, which would have longer-term effects on profitability and investment, hence growth and employment. We also model the impact of an upward convergence in female and male wages, with wages increasing with a closing gender pay gap, as well as progressive taxation.
Discussant(s)
Stephanie Seguino
,
University of Vermont
Daniele Tavani
,
Colorado State University
JEL Classifications
  • E1 - General Aggregative Models
  • B5 - Current Heterodox Approaches