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Family Welfare and the Great Recession

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Abstract

The analysis in this paper provides estimates of family welfare losses generated by wage and nonlabor income declines experienced across the Great Recession and by labor market constraints existing postrecession. 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.

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  • Julie L. Hotchkiss & Robert E. Moore & Fernando Rios-Avila, 2014. "Family Welfare and the Great Recession," FRB Atlanta Working Paper 2014-10, Federal Reserve Bank of Atlanta.
    • Handle: RePEc:fip:fedawp:2014-10
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    Cited by:

    1. Julie L. Hotchkiss & Robert E. Moore & Fernando Rios-Avila & Melissa R. Trussell, 2017. "A tale of two decades: Relative intra-family earning capacity and changes in family welfare over time," Review of Economics of the Household, Springer, vol. 15(3), pages 707-737, September.
    2. Julie L. Hotchkiss & Robert E. Moore & Fernando Rios-Avila & Melissa R. Trussell, 2014. "Changes in family welfare from 1994 to 2012: a tale of two decades," FRB Atlanta Working Paper 2014-26, Federal Reserve Bank of Atlanta.

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    More about this item

    Keywords

    family welfare; joint labor supply; microsimulation; constrained hours;
    All these keywords.

    JEL classification:

    • D19 - Microeconomics - - Household Behavior - - - Other
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply

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