G2TT
来源类型Discussion paper
规范类型论文
来源IDDP6499
DP6499 Per un Pugno di Dollari: A first Look at the Price Elasticity of Patents
Bruno van Pottelsberghe de la Potterie; Gaétan de Rassenfosse
发表日期2007-09-28
出版年2007
语种英语
摘要Married women's labour force participation has increased dramatically over the last century. Why this has occurred has been the subject of much debate. This paper investigates the role of culture as learning in this change. To do so, it develops a dynamic model of culture in which individuals hold heterogeneous beliefs regarding the relative long-run payoffs for women who work in the market versus the home. These beliefs evolve rationally via an intergenerational learning process. Women are assumed to learn about the long-term payoffs of working by observing (noisy) private and public signals. They then make a work decision. This process generically generates an S-shaped figure for female labour force participation, which is what is found in the data. The S shape results from the dynamics of learning. I calibrate the model to several key statistics and show that it does a good job in replicating the quantitative evolution of female LFP in the US over the last 120 years. The model highlights a new dynamic role for changes in wages via their effect on intergenerational learning. The calibration shows that this role was quantitatively important in several decades.
主题International Macroeconomics ; Labour Economics ; Public Economics
关键词Cultural transmission Female labour force participation Learning Preference formation S shape
URLhttps://cepr.org/publications/dp6499
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/535338
推荐引用方式
GB/T 7714
Bruno van Pottelsberghe de la Potterie,Gaétan de Rassenfosse. DP6499 Per un Pugno di Dollari: A first Look at the Price Elasticity of Patents. 2007.
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