Monetary Policy and Labor Market Gender Gaps
IMF Working Papers, September 29, 2023
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- Monetary Policy and Labor Market Gender Gaps
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Bibliographic details
- Authors: Valentina Flamini, Diego B. P. Gomes, Bihong Huang, Lisa L Kolovich, Aina Puig, Aleksandra Zdzienicka
- Published: September 29, 2023
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9798400257292.001
Main findings
- Study sample: panel of 22 countries using quarterly data from 1990 to 2019.
- Men’s employment falls more than women’s after contractionary monetary policy shocks, narrowing the employment gender gap over time.
- Effects are larger for contractionary monetary policy shocks and during expansions.
- Pages: 24; Volume: 2023; Issue: 211; Series: Working Paper No. 2023/211; DOI: https://doi.org/10.5089/9798400257292.001; Stock No: WPIEA2023211; ISBN: 9798400257292; ISSN: 1018-5941.
Channels and sectoral patterns
- Two factors explain the heterogeneous employment response by gender:
- A larger impact of monetary policy shocks on employment in the industry sector that employs more men.
- A larger response of the employment gap in the services sector, which employs the largest share of men and women.
Labor market adjustment dynamics
- Initial narrowing of the gender employment gap is driven by reductions in gender unemployment gaps.
- Over time, adjustments occur in the gender labor force participation gap, with men’s labor force participation dropping more than women’s.
Heterogeneity across country characteristics
- Larger effects observed in countries with:
- More flexible labor market regulations.
- Higher gender wage gaps.
- Lower informal women’s employment compared to men’s.
Keywords and subject classification
- Subject: Employment, Gender, Gender inequality, Labor, Labor markets, Unemployment, Women.
- Keywords: Employment, employment gender gaps, gender employment gap, gender inequality, gender labor force participation gap, labor force participation, labor market, labor market gender gaps, Labor markets, men employment, Monetary policy, monetary policy shock, shocks, unemployment, Women.
IMF Working Paper — Monetary Policy and Labor Market Gender Gaps, Valentina Flamini, Diego B. P. Gomes, Bihong Huang, Lisa L Kolovich, Aina Puig, Aleksandra Zdzienicka, September 29, 2023.
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