The Labor Market Consequences of Teenage Childbearing

This paper provides estimates of the impact of an unanticipated child during adolescence on labor supply and earnings using data for women who gave birth between 1976 and 2015 drawn from 1990 and 2000 censuses and the American Community Surveys. Twins at first birth are used as an instrument to avoid the problems of fertility endogeneity. Estimates from our instrumental variable models indicate that the arrival of a second‐born twin had severe economic consequences for adolescent women over most of our data. (JEL J13, J31, J16

The Labor Market Consequences of Teenage Childbearing

This paper provides estimates of the impact of an unanticipated child during adolescence on labor supply and earnings using data for women who gave birth between 1976 and 2015 drawn from 1990 and 2000 censuses and the American Community Surveys. Twins at first birth are used as an instrument to avoid the problems of fertility endogeneity. Estimates from our instrumental variable models indicate that the arrival of a second‐born twin had severe economic consequences for adolescent women over most of our data. (JEL J13, J31, J16

Outsourcing with debt financing

This paper investigates the effect of capital structure on a firm’s choice between vertical integration and outsourcing. We model the production decision in a Principal-Agent framework and show that suppliers use debt as a strategic instrument to collect the surplus from outsourcing as their wealth constraint or limited liability ensures them more attractive compensation schemes. Investigating the buyer’s capital structure, we find that outsourcing with risky debt is more likely to occur for high values of the outsourcing surplus.info:eu-repo/semantics/publishedVersio