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A macroeconomic analysis of the effects of gender inequality, wages, and public social infrastructure: the case of the UK

A macroeconomic analysis of the effects of gender inequality, wages, and public social infrastructure: the case of the UK

Onaran, Özlem ORCID: 0000-0002-6345-9922, Oyvat, Cem ORCID: 0000-0002-5097-0246 and Fotopoulou, Eurydice (2021) A macroeconomic analysis of the effects of gender inequality, wages, and public social infrastructure: the case of the UK. Feminist Economics. ISSN 1354-5701 (Print), 1466-4372 (Online) (In Press)

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Abstract

The aim of this paper is to develop a model to analyze the macroeconomic effects of two dimensions of inequalities – gender inequality and functional income distribution- and public spending, in particular in social infrastructure, on output, productivity and hours of employment of men and women. We estimate the model econometrically using an IV-GMM estimator and time series data for the period of 1970-2016 for the UK. For the estimation of productivity, we use IV-GMM estimations based on panel data for 18 industries for the period of 1970-2015. We find that output in the UK is both gender equality-led and wage-led, and hence generally equality-led. Public social infrastructure investment has a high positive effect on both output and employment. Despite a strong positive effect on productivity, employment of both men and women increase in the medium run.

Item Type: Article
Uncontrolled Keywords: gender wage gap, functional income distribution, social infrastructure, productivity, employment
Subjects: H Social Sciences > H Social Sciences (General)
Faculty / Department / Research Group: Faculty of Business
Faculty of Business > Department of International Business & Economics
Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA)
Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA) > Greenwich Political Economy Research Centre (GPERC)
Related URLs:
Last Modified: 01 Apr 2021 13:41
Selected for GREAT 2016: None
Selected for GREAT 2017: None
Selected for GREAT 2018: None
Selected for GREAT 2019: None
Selected for REF2021: None
URI: http://gala.gre.ac.uk/id/eprint/31217

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