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

IF 3.3 2区经济学 Q1 ECONOMICS

Feminist Economics Pub Date : 2022-04-03 DOI:10.1080/13545701.2022.2044498

Özlem Onaran, Cem Oyvat, Eurydice Fotopoulou

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引用次数: 6

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.

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性别不平等、工资和公共社会基础设施影响的宏观经济分析:以英国为例

本研究的目的是建立一个模型，分析不平等的两个维度——性别不平等和功能性收入分配——以及公共支出，特别是社会基础设施、产出、生产力和男女就业时间的宏观经济影响。本研究使用IV-GMM估计器和英国1970-2016年期间的时间序列数据对模型进行了计量估计。对于生产力的估计，本文使用了基于1970-2015年期间18个行业面板数据的IV-GMM估计。研究发现，英国的产出既以性别平等为主导，又以工资为主导，因此总体上以平等为主导。公共社会基础设施投资对产出和就业都有很大的积极影响。尽管对生产力产生了巨大的积极影响，但从中期来看，男性和女性的就业都有所增加。英国的产出以性别平等为主导，以工资为主导；因此，英国是平等主导的。通过缩小性别薪酬差距，工资向上趋同会带来更高的产出。公共社会基础设施支出对产出和生产力有积极影响。公共社会基础设施为男性和女性带来了更高的就业率。劳动力市场和财政政策的结合可以实现平等和就业。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Feminist Economics Multiple-

CiteScore

7.50

自引率

4.30%

发文量

期刊介绍： Feminist Economics is a peer-reviewed journal that provides an open forum for dialogue and debate about feminist economic perspectives. By opening new areas of economic inquiry, welcoming diverse voices, and encouraging critical exchanges, the journal enlarges and enriches economic discourse. The goal of Feminist Economics is not just to develop more illuminating theories but to improve the conditions of living for all children, women, and men. Feminist Economics: -Advances feminist inquiry into economic issues affecting the lives of children, women, and men -Examines the relationship between gender and power in the economy and the construction and legitimization of economic knowledge -Extends feminist theoretical, historical, and methodological contributions to economics and the economy -Offers feminist insights into the underlying constructs of the economics discipline and into the historical, political, and cultural context of economic knowledge -Provides a feminist rethinking of theory and policy in diverse fields, including those not directly related to gender -Stimulates discussions among diverse scholars worldwide and from a broad spectrum of intellectual traditions, welcoming cross-disciplinary and cross-country perspectives, especially from countries in the South