The relationship between paid work and parenthood--a comparison of structures,concepts and developments in the UK and Austria

This article investigates and compares the dominant concepts of public policy concerning the employment-parenthood interface in the UK and Austria. These two countries have been chosen because they represent very different public policy conceptions, particularly in approaching the work-family issue. In order to show the consequences of these policies the paper focuses on working time and time away from employment, when children are very young, and relates these aspects to currently introduced and changed regulatory structures, such as working time regulations and statutory parental leave. The active labour market and family policy in Austria, generally, supports the reconciliation of employment and parenthood. However, the Austrian work-family 'system' suffers from the underlying notion of the male breadwinner model in public support structures and low normative support of employed mothers. The cultural barriers for a more equal distribution of the burdens of combining employment and parenthood seem to be lower in the UK. The market as the political focus, in general, allows more equal opportunities for (qualified) women in the labour market and within families. But the highly flexible and polarised labour market, passive public policy and weak legal protection of employed parents creates a difficult relationship between paid work and family life for many parents, in particular for low-skilled, low-paid parents, above all mothers. These analyses provide the basis for conclusions for public policy aiming at the reconciliation of paid work and parenthood. Ce texte cherche à comparer les concepts dominants de la politique gouvernementale concernant l'interface travail-parent en Grande-Bretagne et en Autriche. Ces deux pays ont été choisis parce qu'ils présentent des concepts de politique gouvernementale très différents, en particulier en ce qui concerne la question de la famille et le travail. Ce texte montre les conséquences de la pratique de ces politiques sur le temps au travail rémunéréet le temps passé à l'extérieur de l'emploi ou sans emploi, et ce, dans un contexte o[ugrave] les enfants sont jeunes. Le texte fait la relation entre ces éléments et la pratique des structures de contrôle existantes et modifiées telles que les lois (ou: les règlements) sur le temps passéau travail et sur les congé parentaux. En général, le marché du travail et la politique de la famille en Autriche encourage la conciliation entre l'emploi et la responsabilité de parent. Par contre, ce système de travail- famille autrichien est un concept qui est fondé à la fois sur le modèle de l'homme comme fournisseur principal du revenu familial dans les structures de soutien public ainsi que sur normes de soutien peu élevées pour les mères employées. Les barrières culturelles face àune distribution plus égalitaire de la responsabilité travail-famille semblent être moins élevées en Grande-Bretagne. En général, le marché et la politique du marché du travail ont offerts plus d'opportunités aux femmes qualifiées. Mais la volatilité (et la polarisation) du marché du travail, la politique gouvernementale passive et la faible protection légale pour les parentstravailleurs créent tous une relation difficile pour les parents entre le travail rémunéré et la vie de famille--en particulier pour ceux qui sont moins qualifiés et mal rémunérés, dont surtout les mères de famille. Cette analyse nous guide vers la nécessité d'une politique gouvernementale qui vise la conciliation entre le travail rémunéré et la responsabilité parentale.     

The Texaco racial discrimination case and shareholder wealth

We analyze the wealth ejfects of the Texaco racial discrimination lawsuit both on the shareholders of Texaco and its major U.S. competitors. Employing a comprehensive data set which included every case docket entry and every Wall Street Journal article on the case as an experimental stimulus, our findings suggest that the overall cost of the case to Texaco shareholders exceeded $500 million, that Texaco's tribulations had little, if any, impact on the share prices of its major competitors, and that Wall Street Journal coverage of the case was highly correlated with significant changes in Texaco stock prices. This last finding provides significant support for Hite 's suppostion that newspaper editors “key ” on ex post stock price changes in selecting the events to be covered in the next day's edition. The authors are grateful to Kee Chung for helpful comments on earlier drafts and also acknowlege the help-ful assistance of the staff of the law library at the Cecil C. Humphreys School of Law at The University of Memphis.     

A Review of Kyoto Protocol Adoption in Russia: Joint Implementation in Focus

Russia’s role in ‘animation’ of the Kyoto Protocol was crucial. Its initial vacillation on ratification was predominantly due to political bargaining with the EU. Domestic economic rationales [i.e. impacts of emission trading and Joint Implementation (JI) projects] were important to a much lesser extent and environmental motives did not seem to play any role in the decision. Since the Protocol entered into force, there have been significant delays in complete establishment of policy implementation frameworks, which are necessary for Russia to start benefiting from JI and emission trading. Only recently, in 2007, have GHG inventories and a national registry been established and the responsibilities for implementation of the Protocol and JI among the government departments have been distributed only to a certain extent. Some constraints hindering JI projects, such as vague legislation, an unfavourable economic climate, lack of commitment to JI projects, corruption, xenophobia, state and agency ‘capture’ still remain.      

Job Insecurity and the Timing of Parenthood: A Comparison between Eastern and Western Germany

This article contributes to the ongoing debate on the economic determinants of fertility behavior by addressing the role of job insecurity in couples’ intentions concerning parenthood and its timing. It starts from the hypothesis that cultural values moderate individuals’ reactions to job insecurity and the way it is related to family formation. With a systematic thematic content analysis of a set of semi-structured interviews with childless men and women around the age of 30 in eastern and western Germany, we are able to show that there are substantial differences in the consequences of job insecurity on intentions to have a first child. In western Germany, a relatively secure job career is expected to precede family formation, and this sequence of transitions is rather rigid, whereas in eastern Germany job security and family formation are thought of and practiced as parallel investments. We suggest that the lack of convergence in family formation patterns between eastern and western Germany after the unification of the country in 1990 is partially related to different attitudes toward job insecurity in the two contexts.     

A regression-based smoothing spline Monte Carlo algorithm for pricing American options in discrete time

American options in discrete time can be priced by solving optimal stopping problems. This can be done by computing so-called continuation values, which we represent as regression functions defined recursively by using the continuation values of the next time step. We use Monte Carlo to generate data, and then we apply smoothing spline regression estimates to estimate the continuation values from these data. All parameters of the estimate are chosen data dependent. We present results concerning consistency and the estimates’ rate of convergence.     

An Experimental Evaluation of the Serial Cost Sharing Rule

This paper proposes an experimental test to evaluate the performance of the serial cost sharing rule, originally proposed by Shenker [Sigmetrics, 241–242 (1990)] and then analyzed by Moulin and Shenker [Econometrica 60, 1009–1037 (1992)]. We report measures of the performance and efficiency of the serial mechanism by comparing the choices and payoffs attained by the subjects to the expected equilibrium allocations. Experimental evidence shows that learning is needed for the subjects to converge to the equilibrium strategy. However, in terms of efficiency, the serial mechanism leads to almost efficient allocations.