  Using a Taylor rule amended with official reserves movements, we derive
country-specific monetary shocks and employ a local projections-estimator for
tracking gender-disaggregated labor-market responses in 99 developing economies
from 2009 to 2021. Results show that women experience more negative post-shock
employment responses than men, contributing to a deepening of the gender gaps
on the labor market. After the shock, women leave the labor market more so than
men, which results in an apparently intact or even improved unemployment
outcome for women. We find limited evidence of sector-specific reaction to
interest rates. Additionally, we identify an intense worsening of women-s
position on the labor market in high-growth environments as well under monetary
policy tightening. Developing Asia and Latin America experience the most
significant detrimental effects on women's employment, Africa exhibits a slower
manifestation of the monetary shocks-impact and developing Europe shows the
mildest effects.
