Browsing by Author "Gallego, Francisco"

Now showing 1 - 4 of 4
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    Baby commodity booms? The impact of commodity shocks on fertility decisions and outcomes
    (SPRINGER, 2021) Gallego, Francisco; Lafortune, Jeanne
    This paper uses international commodity prices and local natural resource endowments as a source of plausibly exogenous variation in local Chilean economic conditions to study how these shocks impact fertility behavior of families in a small, emerging open economy where non-marital fertility is common but parental obligations are not well enforced. We find that these commodity shocks lead to an increase in the number of births and the birth rate. We argue that these results are consistent with most women experiencing an income effect and a limited substitution effect from commodity booms. This is confirmed by looking at groups that would have experienced a larger income than substitution effect: higher-order births, births within marital relationships, and those by mothers who do not experience an increase in their employment probability respond more strongly to these commodity booms.
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    CEO compensation and large shareholders: Evidence from emerging markets
    (2012) Gallego, Francisco; Larrain, Borja
    Gallego, Francisco, and Larrain, Borja-CEO compensation and large shareholders: Evidence from emerging markets
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    The effect of transport policies on car use: A bundling model with applications
    (2013) Gallego, Francisco; Montero, Juan-Pablo; Salas, Christian
    Borrowing from the bundling literature, the paper presents a novel model of vertical and horizontal differentiation applied to transport decisions: households differ in their preferences for transportation modes - cars vs public transport - and in the amount of travel. Using few observables, the model is then used to interpret and compute policy costs associated to the effects of two major transport policies: the driving restriction program introduced in Mexico-City in November of 1989 and the public transport reform carried out in Santiago-Chile in February of 2007. Both policies had the unintended impact of increasing the number of cars on the road; and their associated transport costs are estimated, respectively, to be about 5% and 9% of the value of the vehicle stock at the time of implementation. (C) 2013 Elsevier B.V. All rights reserved.
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    The effect of transport policies on car use: Evidence from Latin American cities
    (2013) Gallego, Francisco; Montero, Juan-Pablo; Salas, Christian
    In an effort to reduce air pollution and congestion, Latin American cities have experimented with different policies to persuade drivers to give up their cars in favor of public transport. This paper looks at two of such policies: the driving restriction program introduced in Mexico City in November of 1989-Hoy-No-Circula (HNC)-and the public transport reform carried out in Santiago in February of 2007-Transantiago (TS). Based on hourly concentration records of carbon monoxide, which comes primarily from vehicles exhaust, we find that household responses to both HNC and TS have been not only ultimately unfortunate-more cars on the road and higher pollution levels-but also remarkably similar in two important aspects: on how policy responses vary widely among income groups and on how fast households adjust their stock of vehicles, when they do. (C) 2013 Elsevier B.V. All rights reserved.