Discussion Paper Details

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Title: The Aggregate Implications of Gender and Marriage

Author(s): Margherita Borella, Mariacristina De Nardi and Fang Yang

Publication Date: December 2016

Keyword(s): Aggregates, Gender, Macroeconomy and Marriage

Programme Area(s): Macroeconomics and Growth and Public Economics

Abstract: Wages, labor market participation, hours worked, and savings differ by gender and marital status. In addition, women and married people make up for a large fraction of the population and of labor market participants, total hours worked, and total earnings. For the most part, macroeconomists have been ignoring women and marriage in setting up structural models and by calibrating them using data on males only. In this paper we ask whether ignoring gender and marriage in both models and data implies that the resulting calibration matches well the key economic aggregates. We find that it does not and we ask whether there are other calibration strategies or relatively simple models of marriage that can improve the fit of the model to aggregate data.

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Bibliographic Reference

Borella, M, De Nardi, M and Yang, F. 2016. 'The Aggregate Implications of Gender and Marriage'. London, Centre for Economic Policy Research.