Did the Great Recession force female spouses to work?Added Worker Effect in the U.S. labor market in 2008

• 발행기관: 한국재정학회(구 한국재정·공공경제학회)
• 저자명: 최정환
• 간행물 정보: 『한국재정학회 학술대회 논문집』2014년도 추계학술대회 논문집, 1~49쪽, 전체 49쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2014.10.20

영문 초록

In this study, we investigate whether female spouses increased quantity of labor supply to compensate for lost earnings in households where male breadwinners became unemployed during the Great Recession. We derive the equation for empirical analysis from the household lifecycle labor supply model by using first order conditions of utility optimization, and estimate the equation using Panel Study of Income Dynamics (PSID) dataset. By estimating data applying three econometric techniques on panel data analysis, signs of estimated coefficients in all samples support our AWE hypothesis. The size of coefficients indicating AWE are especially larger in ethnic and housing asset sub-sample minority groups who most intensely felt the effects of the Great Recession. In these groups, we find that female spouses’ leisure consumption decrease to 0.037-0.048 hours per week. Compared to previous studies on this topic, the size and significance of our study is much greater, implying that some groups of female spouses in the Great Recession could have increased their labor market working hour to compensate for income loss from their male breadwinner’s job displacement.

목차

1 Introduction

2 Literature

3 Data

4 Empirical Specification

5 Estimation Result

6 Conclusion, Limitations, and Further Researches.

References

A Appendix : Model

키워드

Labor market in the Great Recession Female Labor Supply Added Worker Effect Panel Study of Income Dynamics (PSID)