Economic benefits of gender equality in the EU
This study finds that if the EU stepped up its efforts to improve gender equality, more jobs would be created, GDP per capita would increase and society would be able to adjust better to the challenges related to the ageing population.
A newly-developed version of Cambridge Econometrics’ world-leading macroeconomic model provided a key element of the study, commissioned by The European Institute for Gender Equality and delivered in collaboration with an international team, with partners at ICF and Collegio Carlo Alberto.
The study is unique in the EU context, because it uses a robust econometric model (E3ME) to estimate socio-economic outcomes of improving gender equality in several broad areas including education, labour market participation, wages and work-life balance. For the purpose of this project, a new version of the E3ME model was developed, which includes new equation sets for employment and wages disaggregated by gender.
Hector Pollitt, Director at Cambridge Econometrics said: “Our macroeconomic model E3ME has demonstrated its adaptability in this ground-breaking study. Having developed new equation sets specifically for this sector we have successfully customised the model for our client. As a result we are confident that we could help deliver further studies in the area of gender equality.”