Macroeconomists Can't Keep Ignoring Race and Gender

Narayana Kocherlakota:

Macroeconomists Can't Keep Ignoring Race and Gender: The models that researchers build to understand the economy tend to be blind to race and gender, as if macroeconomic policies typically affect blacks the same as whites and women the same as men. Increasingly, that's looking like the wrong way to go about it. ...

Gender has figured in some work, but is typically ignored. To my knowledge, no work within this research program has focused explicitly on race.

Two recent papers cast significant doubt on the wisdom of assuming a raceless and genderless society...