Household Formation, Female Labor Supply, and Savings

Household Formation, Female Labor Supply, and Savings

In this paper, we aim to quantify the impact of changing family structures on labor supply and savings in Western societies. Our dynamic general equilibrium model features both genders, and it takes into account changes in marital status as a stochastic process. The numerical results indicate that c...

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Bibliographic Details
Published in:The Scandinavian journal of economics Vol. 118; no. 4; pp. 868 - 911
Main Authors: Fehr, Hans, Kallweit, Manuel, Kindermann, Fabian
Format: Journal Article
Language:English
Published: Oxford Blackwell Publishing Ltd 01-10-2016
John Wiley & Sons Ltd
Subjects:
Economic models
Economic theory
Equilibrium
Female employees
Germany
Home production
Households
J12
J22
Labor economics
Labor supply
Labour economics
Labour supply
life-cycle model
marital risk
stochastic general equilibrium
Studies
Germany
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Summary:In this paper, we aim to quantify the impact of changing family structures on labor supply and savings in Western societies. Our dynamic general equilibrium model features both genders, and it takes into account changes in marital status as a stochastic process. The numerical results indicate that changes in household formation can partly explain the reallocation of male and female labor supply observed during the last decades in Germany. We also find a negative impact on capital accumulation, and we show that a combination of higher marital risk and a narrowing gender wage gap can explain the changes in hours ratios between single and married men and women.
Bibliography:istex:E5F41776CD5786D1FD3F3429561073D578D4F4E2
ArticleID:SJOE12154
We are grateful for helpful comments from Karl Ove Aarbu, Johann Brunner, Alexia Fürnkranz-Prskawetz, Alfred Maussner, Lex Meijdam, two anonymous referees, and seminar participants at the universities of Augsburg and Lund, DIW Berlin, NETSPAR Pension Workshop, CESifo Munich, and the annual congresses of the German Economic Association and ESPE. Financial support from NETSPAR and the Fritz Thyssen Stiftung is gratefully acknowledged.
ark:/67375/WNG-DKT4NS0T-R
We are grateful for helpful comments from Karl Ove Aarbu, Johann Brunner, Alexia Fürnkranz‐Prskawetz, Alfred Maussner, Lex Meijdam, two anonymous referees, and seminar participants at the universities of Augsburg and Lund, DIW Berlin, NETSPAR Pension Workshop, CESifo Munich, and the annual congresses of the German Economic Association and ESPE. Financial support from NETSPAR and the Fritz Thyssen Stiftung is gratefully acknowledged.
ObjectType-Article-1
SourceType-Scholarly Journals-1
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ISSN:0347-0520
1467-9442
DOI:10.1111/sjoe.12154