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

Author

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  • Onaran, Özlem
  • Oyvat, Cem
  • Fotopoulou, Eurydice

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.

Suggested Citation

  • Onaran, Özlem & Oyvat, Cem & Fotopoulou, Eurydice, 2022. "A macroeconomic analysis of the effects of gender inequality, wages, and public social infrastructure: the case of the UK," Greenwich Papers in Political Economy 31217, University of Greenwich, Greenwich Political Economy Research Centre.
    • Handle: RePEc:gpe:wpaper:31217
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    File URL: http://gala.gre.ac.uk/id/eprint/31217/11/31217%20ONARAN_Analysis_Of_The_Effects_Of_Gender_Inequality_%28OA%29_2022.pdf
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    Citations

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    Cited by:

    1. 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).
    2. Reljic, Jelena & Zezza, Francesco, 2024. "Breaking the Divide: Can Public Spending on Social Infrastructure Boost Female Employment in Italy?," GLO Discussion Paper Series 1407, Global Labor Organization (GLO).
    3. 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).
    4. 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.
    5. 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).
    6. Zuazu-Bermejo, Izaskun, 2024. "Reviewing feminist macroeconomics for the XXI century," ifso working paper series 30, University of Duisburg-Essen, Institute for Socioeconomics (ifso).
    7. 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.
    8. 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.

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