Autore
Vassilakis, Spyros

Titolo
Accelerating new product development by overcoming complexity constraints
Periodico
European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1996 - Fascicolo: 15 - Pagina iniziale: 1 - Pagina finale: 31

A dynamic model of time allocation decisions between work, child care and search activities upon a first birth is analyzed using a non-stationary dynamic programming model. Using backward recursion methods, I estimate a model which incorporates the following sequence of decisions, whether to stop working or not, whether to give up tenure, when to undertake search activities (for those who give up tenure) and the setting of the optimal reservation wage. The model is non-stationary; the value of specializing in child care activities and search costs are age specific, those who give up tenure must absorb a human capital loss and offer probabilities are also duration dependent. The role of maternity benefits is also investigated. Overall, the model is able to explain the relatively large fraction of women who do not interrupt careers upon a first birth as well as the rapidly declining re-employment hazards.



Testo completo: http://hdl.handle.net/1814/586

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