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A Macroeconomic Analysis of the Effects of Gender Inequality, Wages, and Public Social Infrastructure: The Case of the UK

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  • Özlem Onaran
  • Cem Oyvat
  • Eurydice Fotopoulou

Abstract

The aim of this study is to develop a model to analyze the macroeconomic effects of two dimensions of inequality – gender inequality and functional income distribution – and public spending, in particular on social infrastructure, on output, productivity, and hours of employment of men and women. This study estimates 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, the article uses IV-GMM estimations based on panel data for eighteen industries for the period of 1970–2015. The study finds 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, the employment of both men and women increases in the medium run.HIGHLIGHTS Output in the UK is gender equality-led and wage-led; hence the UK is equality-led.An upward convergence in wages by closing gender pay gaps leads to higher output.Public social infrastructure spending has a positive effect on output and productivity.Public social infrastructure leads to higher employment for both men and women.A mix of labor market and fiscal policies can achieve both equality and employment.

Suggested Citation

  • Özlem Onaran & Cem Oyvat & Eurydice Fotopoulou, 2022. "A Macroeconomic Analysis of the Effects of Gender Inequality, Wages, and Public Social Infrastructure: The Case of the UK," Feminist Economics, Taylor & Francis Journals, vol. 28(2), pages 152-188, April.
    • Handle: RePEc:taf:femeco:v:28:y:2022:i:2:p:152-188
    DOI: 10.1080/13545701.2022.2044498
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    Cited by:

    1. Oyvat, Cem & Onaran, Özlem, 2022. "The effects of social infrastructure and gender equality on output and employment: The case of South Korea," World Development, Elsevier, vol. 158(C).
    2. Hiroshi Nishi & Kazuhiro Okuma, 2023. "Fiscal policy and social infrastructure provision under alternative growth and distribution regimes," Evolutionary and Institutional Economics Review, Springer, vol. 20(2), pages 259-286, September.
    3. Zuazu-Bermejo, Izaskun, 2024. "Reviewing feminist macroeconomics for the XXI century," ifso working paper series 30, University of Duisburg-Essen, Institute for Socioeconomics (ifso).
    4. Hoang, Thon T.C. & Nguyen, Dung T.K., 2023. "Women’s representation in parliament and tax mobilization," MPRA Paper 118367, University Library of Munich, Germany, revised 24 Aug 2023.
    5. Hein, Eckhard, 2022. "Varieties of demand and growth regimes: Post-Keynesian foundations," IPE Working Papers 196/2022, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    6. Adem Yavuz Elveren & Ünal Töngür & Tristian Myers, 2023. "Military spending and economic growth: A post-Keynesian model," Economics of Peace and Security Journal, EPS Publishing, vol. 18(2), pages 51-65, October.
    7. Hiroshi Nishi & Kazuhiro Okuma, 2023. "Social common capital accumulation and fiscal sustainability in a wage-led growth economy," Working Papers PKWP2305, Post Keynesian Economics Society (PKES).
    8. Jelena Reljic & Francesco Zezza, 2024. "Breaking the Divide: Can Public Spending on Social Infrastructure Boost Female Employment in Italy?," Working Papers in Public Economics 246, University of Rome La Sapienza, Department of Economics and Law.

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