Datasets:
olimiemma
/
MIT-OCW-Transcripts

Dataset card Data Studio Files
xet
 Community
1
text
stringlengths
0
205
the last 40 years--
PROFESSOR: Why?
Speak up so the class
can hear you.
Why is that?
AUDIENCE: Because women
work more often now
than they did before.
PROFESSOR: Women work
more often now.
So the income effect is going to
be getting bigger for them.
So the income effect is going
up, because their
initial h is bigger.
Plus there's actually now,
in some sense, less good
opportunities if you're
not working.
So when we had our first kid,
and we lived in Brookline,
which is sort of an urban city,
and my wife decided to
stay at home, she didn't have
moms to hang out with.
It was just nannies
at the park.
And it wasn't that much fun.
And so, basically, the
substitution effect is
shrinking, because the outside
options aren't quite as good
as they were, as the norms
shift towards work.
Whereas for men, actually it's
becoming more normal for men
to be engaged in child care.
My best friend is a
stay-at-home dad.
It's becoming more normal
for that to happen.
And so the substitution
effect is rising.
It's not implausible that if
you cut a man's wage down,
he'll just say forget it.
My wife's going to work.
I'm taking care of the kids.
That would be socially
ostracizing 40 years ago.
But it's not that odd now.
And, likewise, as men are less
engaged in the labor force and
spending more time at home,
their income effects are
falling, because their
initial h is smaller.
So you're getting a convergence
in these labor
supply elasticities.
What really seems to be
happening is mostly