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Loews Philadelphia, Adams
Union for Radical Political Economics & International Association for Feminist Economics
Gender, Care and Heterodox Macroeconomic Modeling
Saturday, Jan. 6, 2018 2:30 PM - 4:30 PM
- Chair: Elissa Braunstein, Colorado State University
Overlapping Generations and Reproductive Labor
AbstractUnpaid 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
AbstractThe 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
AbstractIn 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.
University of Vermont
Colorado State University
- E1 - General Aggregative Models
- B5 - Current Heterodox Approaches