Family Welfare and the Great Recession
55 Pages Posted: 12 Sep 2014
Date Written: August 1, 2014
The analysis in this paper provides estimates of family welfare losses generated by wage and non-labor income declines experienced across the Great Recession and by labor market constraints existing post-recession. Welfare losses are greater as families (both married and single) move up the income distribution. Total static welfare losses are estimated to amount to roughly $190 billion, comparing family welfare between 2007 and 2011.
Keywords: Family welfare, joint labor supply, microsimulation, constrained hours
JEL Classification: I30, J22, D19, E32
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