LABOR MARKET CONDITIONS AT SCHOOL‐LEAVING: LONG‐RUN EFFECTS ON MARRIAGE AND FERTILITY

In this study, we assess the long‐run impact of labor market conditions at the time of school‐leaving on marriage and fertility outcomes. We draw data from the National Longitudinal Survey of Youth 1979. Our sample left school between 1976 and 1989, and we use variation in the state unemployment rate at the time of school‐leaving to identify persistent effects. We find that men who left school when the state unemployment rate was high are less likely to be married and have children at age 45, but are more likely to be divorced. Women, however, are more likely to have children. (JEL J1, J2)     

Entrepreneurship in and around institutional voids: A case study from Bangladesh

In many developing countries those living in poverty are unable to participate in markets due to the weakness or complete absence of supportive institutions. This study examines in microcosm such institutional voids and illustrates the activities of an entrepreneurial actor in rural Bangladesh aimed at addressing them. The findings enable us to better understand why institutional voids originate and to unpack institutional processes in a setting characterized by extreme resource constraints and an institutional fabric that is rich but often at odds with market development. We depict the crafting of new institutional arrangements as an ongoing process of bricolage and unveil its political nature as well as its potentially negative consequences.     

Lifetime aggregate labor supply with endogenous workweek length

This paper studies lifetime aggregate labor supply with endogenous workweek length. Such a theory is needed to evaluate various government policies. A key feature of our model is a nonlinear mapping from hours worked to labor services. This gives rise to an endogenous workweek that can differ across occupations. The theory determines what fraction of the lifetime an individual works, not when. We find that constraints on workweek length have different consequences for total hours than for total labor services. Also, we find that policies designed to increase the length of the working life may not increase aggregate lifetime labor supply.     

Corporate Governance and Market Valuation of Publicly Traded Real Estate Companies: Evidence from Europe

With respect to the increasing significance of transparency and corporate governance, the study at hand investigates the impact of a broad set of principal corporate governance mechanisms on the market valuation of publicly traded real estate companies from the UK, France, the Netherlands and Germany, while addressing major econometric shortcomings of previous corporate governance studies, including omitted variable bias, endogeneity and reverse causality. The results of the analysis have important practical implications for strategic decision-making of both top-executives of publicly traded real estate companies as well as investors.     

Construction of consumer choice in the market: challenges for environmental policy

Drawing from the literature on the analytics of government, the paper discusses marketing as a form of government, elaborating and illustrating the many ways in which consumer choice is shaped, modified and directed in the market through practices and techniques of consumer marketing. The aim is to critically reflect upon and render problematic the individualistic ideas of the green consumer as a powerful market force and to provoke discussion on the conceptualization – and construction – of consumer subjectivity and social problems in marketing. Taking examples particularly from the fashion and clothing industry, the paper discusses the ways in which marketing activities come to shape consumer conduct by operating through the choice of individuals who freely pursue their needs and desires, and by working on the environment within which this freedom of choice is exercised. The paper contributes to the literature on green consumerism by systematically interrogating and elaborating on the modes and practices of marketing thought and expertise through which consumers and consumption are rendered intelligible and actionable in the market.     

Over-Indebtedness in the Finnish Consumer Society

The incurring of debts continues to be a major problem in European economies despite the legislative and other preventive policies introduced over the past 10 years. This article discusses the problem of over-indebtedness in the Finnish consumer society. The article focuses on identifying the environmental and household factors promoting indebtedness and reviews the measurements of over-indebtedness. At the end of the article, a few policy instruments to tackle, or even prevent, over-indebtedness are provided. As debt problems are diverse and complex, the focus is to address the debt problem itself, identify its causes and search for tools for solving it. In addition, constructive talk about the indications of the problem and preventive mechanisms is also of essence.     

Managing conflicting goals in pig farming: farmers' strategies and perspectives on sustainable pig farming in Sweden

Industrial meat production has several negative environmental effects. Governments’ agricultural policies aim for cost efficiency combined with high environmental and animal welfare, which puts farmers in a difficult situation trying to navigate between sometimes contradictory requirements. This paper studies how Swedish pig farmers resolve or cope with conflicting goals in pig farming. We have analysed the regulations governing EU and Swedish pig farming. We have also interviewed five Swedish pig farmers about their views of the different goals of pig farming and strategies for resolving conflicts between the goals of low environmental impact, high animal welfare and enough profitability to continue farming. The greatest divide was between the conventional farmers, who emphasized natural resource efficiency, and the organic farmers who stressed animal welfare, multifunctionality and ecosystem service delivery. We suggest four strategies to contribute to resolving some of the conflicting goals: improve communication about different types of pig farming; use public procurement as a driver towards more sustainable pork production; work towards improving the Common Agricultural Policy, perhaps by implementing payments for ecosystem services or multifunctionality; and finally, decrease the total production of pork to lower the emissions per land unit.