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A theory of the misallocation of time

Abstract

In 1965, Gary Becker published an article entitled “A Theory of the Allocation of Time” that called attention to the productivity of nonmarket work. Laying an important cornerstone of the “new home economics,” Becker extended neoclassical economic theory beyond the traditional realm of consumer choice. He also reinforced its most reassuring claim: Individuals pursuing their own self-interest by maximizing their utility make choices that are efficient not only for them, but also for society as a whole. Related contributions by Jacob Mincer (1962) and Reuben Gronau (1973, 1977, 1980) clarify the implications for gender roles: Women choose to specialize in nonmarket production within the home because this represents their best option.

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What determines female autonomy? Evidence from Bangladesh

  • Female autonomy
  • Intrahousehold bargaining

Abstract

This paper examines the determinants of female autonomy within households in a developing country. In particular, we investigate the relative contributions of earned versus unearned income in enhancing women's autonomy and the role of employment outside of their husband's farm. In a simple theoretical model, it is demonstrated that earned income could be more important than unearned income in empowering women. Using data from rural Bangladesh, empirical estimations confirm this prediction and also reveal the surprising fact that it is not employment per se but employment outside their husbands' farms that contributes to women's autonomy. The data also point to the importance of choosing the correct threat point in theoretical analyses of female autonomy.

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Gary Becker's Contributions to Family and Household Economics

  • household behavior
  • family economics

Abstract

Gary Becker's influence on the economics of the family has been pervasive. His ideas have dominated research in the economics of the family, shaping the tools we use, the questions we ask, and the answers we give. The foundational assumptions of Becker's economic approach to the family -- maximizing behavior and equilibrium -- as well as such primary auxiliary assumptions as household production and interdependent preferences, are now widely accepted not only by economists but also by family sociologists, demographers, and others who study the family.

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Survey Article: Feminism in the Dismal Science

  • feminism
  • dismal science

Despite its shortcomings, the “dismal science” has been perhaps the most powerful and successful policy discourse in recent history, and its impact on the evolution of other disciplines has been profound. Current political debates resound with neoliberal arguments about the values of “free markets,” sustained by neoclassical economic analysis. In academia, rational choice theory (RCT), with its central category of Rational Economic Man (REM), has spread from its birthplace in economics to become a force to be reckoned with in fields as varied as sociology, law, and political philosophy.

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The Gender Gap in Early Career in Mongolia

  • Gender wage gap
  • Asia
  • school-to-work transitions
  • earnings equations
  • decomposition analysis
  • Mongolia

Abstract

Relatively little is known about the youth labour market in general and about gender differences in Mongolia, one of the fifty poorest countries in the world. This paper addresses the issue by taking advantage of a School to Work Survey (SWTS) on young people aged 15-29 years carried out in 2006. On average, female wages are not lower than those of males. However, women have a much higher average educational level than men: in fact, although not statistically significant among teenagers (15-19), the conditional gender gap becomes significant and sizeable for the over-20.

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  1. The Gender Wage Gaps, ‘Sticky Floors’ and ‘Glass Ceilings’ of the European Union
  2. How women have fared in the labour marketwith China's rise as a global economic power
  3. Drivers of Gendered Sectoral and Occupational Segregation in Developing Countries
  4. Gender Roles and Medical Progress

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