Why Do Women Wait? Matching, Wage Inequality, and the Incentives for Fertility Delay

This paper explores the interaction between wage inequality and the marriage and fertility decisions of young women. We develop an equilibrium search model of marriage, divorce, and investment in children that allows for differential timing of fertility. We show how patterns of fertility timing in U.S. data can be explained by the incentives for fertility delay implied by marriage and labor markets. We find that these incentives help explain both the cross-sectional relationship between women's wages and fertility timing and the changes over the past 40 years in married women's fertility timing and labor supply. Journal of Economic Literature Classification Numbers: J12, J13.     

Distortions,endogenous managerial skills and productivity differences

We develop a span-of-control model where managerial skills are endogenous and the outcome of investments over the life cycle of managers. We calibrate this model to U.S. plant-size data to quantify the effects of distortions that are correlated with the size of production units, and how these effects are amplified by managerial investments. We find a quantitatively important role for managerial investments. Distortions that consist of a tax rate of 20% on the top 50% managers reduce steady-state output by about 14.6% in our benchmark model. When skills are exogenous the reduction is about 9.2%.     

Strategic management perspectives on supply chain

In the second decade of the twenty-first century, supply chain management (SCM) practices have gained an increasingly strategic character. The focus has shifted from an operational perspective to a strategic one, and SCM is repeatedly cited in the literature as a strategic management tool with a profound effect on the survival of the organizations. SCM domain is well-supported to be closely linked with a number of strategic management views and theories. This study investigates the main strategic management views and theories relevant to SCM and their interactions. It reveals how they complementarily explain supply chain management characteristics of being customer-driven, process-oriented, global, strategically coupled, complex, dynamic, adaptive, multi-agent, IT-intensive, value creating, collaborative and networked. Based on a comprehensive literature taxonomy, a mapping of the main supply chain characteristics to these management views and theories is provided. A conceptual clustering of different management perspectives is developed, and their interactions are analyzed.

     

Loan Sales and the Cost of Corporate Borrowing

When a loan is sold, it goes to a lower-cost financing sourcethan its originator. Yet, lending markets are less than perfectlycompetitive. Despite the lower funding cost, therefore, theloan price is not necessarily more favorable to the borrower.However, corporate borrowers are averse to the participationof their loans to other lenders because of the complexity ofdealing with multiple banks and the potential information costsof the sale announcement. Consequently, I conjecture that theborrower extracts a price concession in exchange for allowingthe bank to sell participations in the loan. Using a hand-matcheddataset of loans, borrowers, and lenders, I find that the averageyield spread on loans originated by active loan sellers is about20 basis points lower than the average spread on loans originatedby moderate loan sellers.     

Taxing women: A macroeconomic analysis

Based on well-known evidence on labor supply elasticities, several authors have concluded that women should be taxed at lower rates than men. We evaluate the quantitative implications and merits of this proposition. Relative to the current system of taxation, setting a proportional tax rate on married females equal to 4% (8%) increases output and married female labor force participation by about 3.9% (3.4%) and 6.9% (4.0%), respectively. Gender-based taxes improve welfare and are preferred by a majority of households. Nevertheless, welfare gains are higher when the U.S. tax system is replaced by a proportional, gender-neutral income tax.     

Effects of correlation on intermittent demand forecasting and stock control

This study investigates the effects of three different types of correlation on forecasting and stock control of intermittent demand items. Applying appropriate forecasting and stock control methods to theoretically generated compound Poisson demand data we show that correlation in intermittent demand does play a role in forecast quality and stock control performance. Negative autocorrelation levels lead to higher service levels than positive values, while cost does not significantly change. Our results also show that high intermittency levels intensify these changes in service level. We also show that cross-correlation produces results in the opposite direction of autocorrelation in size or intervals; that is, positive (negative) cross-correlation leads to higher (lower) service levels.     

SOCIAL CHANGE: THE SEXUAL REVOLUTION*

In 1900 only 6% of unwed teenage females engaged in premarital sex. Now, three quarters do. The sexual revolution is studied here using an equilibrium matching model, where the costs of premarital sex fall over time due to technological improvement in contraceptives. Individuals differ in their desire for sex. Given this, people tend to circulate in social groups where prospective partners share their views on premarital sex. To the extent that society's customs and mores reflect the aggregation of decentralized decision making by its members, shifts in the economic environment may induce changes in what is perceived as culture.     

More on Marriage,Fertility, and the Distribution of Income*

According to Pareto (1896) , the distribution of income depends on “the nature of the people comprising a society, on the organization of the latter, and, also, in part, on chance.” In the model developed here the “nature of the people” is captured by attitudes toward marriage, divorce, fertility, and children. Singles search for mates in a marriage market. Married agents bargain about work, and the quantity and quality of children. They can divorce. Social policies, such as child support requirements, reflect the “organization of the (society).” Finally, “chance” is modeled by randomness in income, marriage opportunities, and marital bliss.     

The place attachment experience regarding the disabled people: the typology of coffee shops

This study inquires the possible creation of a sense of a place in coffee houses for the disabled people as public places. The physical characteristics of a space are the main factors allowing all people including the disabled ones as well to perceive that place properly and within the “person, place and interaction process” framework. The place attachment, which can be defined as the main emotional bond between space and the users, is heavily influenced by the individualistic experiences and reactions whether they are ordinary or differently abled. In order to initiate a place attachment, spaces should be designed in a way that they respect the occupant’s perception, feelings, memories, senses and their physical abilities to enable them to develop a sense of belonging and ownership. Therefore, creating designs which foster people’s construction process of sense of a place that comprises the concept of identity and sense of belonging, is among the essential issues for realizing place attachment in architecture and design of public spaces. In our contemporary world, there are settings that possess these qualities; contrariwise there are more architectural and urban spaces which ignore these qualities and their benefits for people, especially for the disabled ones. Relatedly, a building should offer people enough information for perceiving it and with its physical features should also support the experiences that occur in it. There is a strong link between memorable events and the space where those events occur. An environment which provides outstanding and meaningful ambiance by its architectural characteristics can establish a sense of a place. Disabled people often have less opportunities to experience the spaces properly compared to others because their limitations are not taken into consideration when designing the public spaces. Therefore, the design process of public spaces should involve the basic needs of disabled people. In order to propose a typology for traditional coffee houses, this research aims to define and discuss the place attachment experience of disabled people in public spaces. The study begins with an overview of identifying different types of disabilities and special needs, and an introductory discussion of how space attachment can help to meet those needs. Therefore, the physical, social and typological aspects of traditional coffee houses were evaluated in terms of location, space organization and functions by considering the profiles of disabled users. Methodologically, this is a case study, which has a mixed research design including qualitative and quantitative research instruments.     

Identifying Key Success Factors for Social Enterprises Serving Base‐of‐Pyramid Markets through Analysis of Value Chain Complexities

There are people in this world who have little or no access to basic needs and they struggle financially, living on less than a handful of dollars a day. A better understanding of how to supply/serve the world's poor is needed. In this paper, through the lens of Porter's value chain framework we investigate the challenges and opportunities social enterprises face in base‐of‐pyramid (BoP) markets based on secondary data on 23 organizations. Our contribution is twofold: First, we analyze value chain complexities for the social enterprise based on the value creation role (consumer, coproducer) and income level (poverty, extreme poverty) of the local population. We find that nature of customers’ requirements varies across customer segments in the BoP markets and social enterprises face unique challenges in fulfilling such differentiated demand patterns. Second, we develop an affordability–accessibility framework that helps to identify the situations that may be favorable/unfavorable for social enterprises to meet the challenges in BoP markets. We make four propositions that social enterprises may use to cope with difficulties in affordability and accessibility. Our findings will be useful for such organizations to understand and design better supply chains for the base of pyramid.