Asymmetric effects of macro policies on women’s and men’s incomes. An empirical investigation of the eurozone crisis in a gender perspective

IF 2.8 4区经济学 Q1 ECONOMICS

Economia Politica Pub Date : 2024-04-04 DOI:10.1007/s40888-024-00333-2

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Abstract

We study how macro policies affected women’s and men’s incomes during the financial crisis in Europe. We consider the monetary stance, proxied by benchmark interest rates, and the fiscal stance, measured by the variation in public expenditures and public revenues, and investigate how they are associated to women’s and men’s labor and capital incomes, using microdata for 27 European countries between 2008 and 2016. We individualize household-level data by considering four scenarios of intra-household sharing of resources. We also explore how and to what extent macro-policies affect the distribution of labour incomes for men and women by applying a conditional quantile regression approach. Results highlight that the ECB’s expansionary policies had a positive effect on both labor and capital incomes for both men and women, while austerity policies had a mixed impact. Reductions in public expenditure had the effect of reducing labor incomes for both men and women, particularly at the median of the wage and labor distributions. In contrast, increases in public revenues benefited capital incomes, for all income quantiles.

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宏观政策对男女收入的不对称影响。从性别视角对欧元区危机进行实证调查

摘要我们研究了欧洲金融危机期间宏观政策如何影响女性和男性的收入。我们考虑了以基准利率为代表的货币立场和以公共支出和公共收入变化为衡量标准的财政立场，并利用 2008 年至 2016 年间 27 个欧洲国家的微观数据，研究了它们与女性和男性的劳动收入和资本收入之间的关系。通过考虑家庭内部资源共享的四种情况，我们对家庭层面的数据进行了个性化处理。我们还采用条件量子回归方法，探讨了宏观政策如何以及在多大程度上影响了男性和女性的劳动收入分配。结果表明，欧洲央行的扩张性政策对男性和女性的劳动收入和资本收入都有积极影响，而紧缩性政策的影响则好坏参半。削减公共开支会降低男性和女性的劳动收入，尤其是工资和劳动分布中位数的收入。与此相反，公共收入的增加有利于资本收入，对所有收入数量级都是如此。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Economia Politica ECONOMICS-

CiteScore

3.90

自引率

5.60%

发文量

期刊介绍： This journal publishes peer-reviewed articles that link theory and analysis in political economy, promoting a deeper understanding of economic realities and more effective courses of policy action. Established in 1984, the journal has kept pace with the times in disseminating high-quality and influential research aimed at establishing fruitful links between theories, approaches and institutions. With this relaunch (which combines Springer’s worldwide scientific scope with the Italian cultural roots of il Mulino and Fondazione Edison, whose research has been published by the two mentioned publishers for many years), the journal further reinforces its position in the European and international economic debate and scientific community. Furthermore, this move increases its pluralistic attention to the role that – at the micro, sectoral, and macro level – institutions and innovation play in the unfolding of economic change at different stages of development.