Are these econometric packages Mac applications that are Apple-Silicon-native?
If you are running macOS/Intel applications using Rosetta 2 translation, there will be some overhead (especially the first time you run them, when Rosetta is translating the machine code). Rosetta 2 translation is pretty good – but I don't know how well it translates machine code that might have been using specialized instructions.
If you are running Wintel applications, inside Windows' Intel emulation/translation, inside Windows for ARM, inside a Parallels or VMware Fusion virtual machine, then you are piling on one layer of overhead after another.