Join Dr Jonna Olsson for this event, which is part of the Macroeconomics Research Seminar Series, Autumn Term 2021
13:00 - 14:30
Lectures, talks and seminars
Applied Economics Research Seminar Series
Economics, Department of
Join Dr Jonna Olsson as they present their research on Structural transformation of the labor market and the aggregate economy
Dr Jonna Olsson from the School of Economics, at the University of Edinburgh will present their research on Structural transformation of the labor market and the aggregate economy.
Women's increased involvement in the economy was the most significant change in labor markets during the past century. In this paper, I show that a macroeconomic model that takes into account gender and household composition in an otherwise parsimonious off-the-shelf setting captures a number of stylized facts regarding historical labor supply patterns for different subgroups of the population: the increase in female labor force participation was mainly driven by married women; single women's labor supply remained fairly constant during the same time period; married men were not crowded out of the labor force by their spouses; labor supply by singles displays a more volatile behavior at business-cycle frequencies; and both short- and long-run patterns are mainly driven by extensive-margin responses.
The proposed model that simultaneously addresses long-run trends and short-run fluctuations across subgroups allows me to ask counterfactual questions: I evaluate the economy's response to aggregate shocks at different points during the transition from low to higher female labor force participation. I show that the underlying trend growth in employment, driven by the growth in married women's labor force participation, contributed to the perceived quick employment recoveries after recessions before 1990, and the absence of growth thereafter consequently helps explain the more recent slower employment recoveries.
This seminar will be held on campus. This event is open to all levels of study and is also open to the public. To register your place, please contact the seminar organisers.
This event is part of the Macroeconomics Research Seminar Series.