Person: Ponce, Roberto D.
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Publication The economics impacts of long-run droughts: Challenges, gaps, and way forward(2023) Fernández , Francisco J.; Vásquez Lavín, Felipe; Ponce, Roberto D.; Garreaud , René; Hernández, Francisco; Link , Oscar; Zambrano, Francisco; Hanemann, MichaelQuantifying drought's economic impacts has been key for decision-making to build future strategies and improve the development and implementation of proactive plans. However, climate change is changing drought frequency, intensity, and durability. These changes imply modifications of their economic impact, as longer droughts result in greater cumulative economic losses for water users. Though the longer the drought lasts, other factors also play a crucial role in its economic outcomes, such as Infrastructure capacity (IC), the Amount of Water in Storage (AWS) in reservoirs and aquifers, and short- and long-term responses to it. This study proposes and applies an analytical framework for the economic assessment of long-run droughts, assessing and explaining central Chile megadrought economic effects through the factors that begin to influence the economic impact level in this setting. High levels of both IC and the AWS, as well as short- and long-term responses of water users, allow for high resilience to long-run droughts, tolerating extraordinary water disruption in its society with relatively low total economic impacts. Despite this adaptability, long-term droughts bring places to a water-critical threshold where long-term adaptation strategies may be less flexible than short-term strategies, escalating the adverse economic effects. This fact suggests that the economic evaluation of megadrought needs to focus on future tipping points (substantial water scarcity). The tipping point depends on the IC, how water users manage the AWS, and adaptation strategies. Establishing the tipping point should be a priority for future interdisciplinary research.Publication Female underperformance hypothesis revisited: methodological review and empirical testing.(2023) Ibañez, María José; Vásquez Lavín, Felipe; Ponce, Roberto D.Comparison between the performance of female and male-managed firms has long been a subject of research interest. Although the argument is that firms run by women have lower performance than those run by men, there is no agreement on the effects of managerial gender on companies’ financial outcomes. This study conducts a methodological review of quantitative research on the relationship between female business leadership and firm performance from 2010 to 2020. This review identifies the most frequently used dependent and explanatory variables and econometric models in the literature. Most studies have not considered endogeneity bias in their model specifications; therefore, these results could be biased and unreliable. We select empirical models to test the female underperformance hypothesis using a sample of Chilean firms. Our findings suggest that managers’ gender does not significantly affect business performance when endogeneity is addressed. Our methodological review reveals a significant gap in the research on female managers and firm performance in the Latin American context, and the empirical test provides new evidence in this vein.Publication Understanding the role of institutions and economic context on entrepreneurial value creation choice(2023) Diaz Tautiva, Julian Andres; Salvaj, Erica; Vásquez Lavín, Felipe; Ponce, Roberto D.Research background: The observable discrepancies in entrepreneurship activity across countries have motivated both researchers and policymakers to comprehend the sources of these variations. Certain scholars have suggested that the answer to this empirical puzzle lies in the macrolevel processes that influence entrepreneurial endeavours. Purpose of the article: As the understanding of macrolevel processes that shape entrepreneurial behaviour is limited, this research aims to answer how institutions and the economic context influence entrepreneurial value creation choices (i.e., for-profit, non-profit, and mixed). Methods: Using a cross-country sample of 7,891 entrepreneurs in 58 countries, we employ a multilevel ordered probit to evaluate a novel conceptual framework. Our analysis models the direct impact of the regulative framework, the normative pillar, and the cultural pillar, alongside the moderating influence of income inequality and economic uncertainty on value creation choices. Findings & value added: Our findings show that the regulative framework has a positive marginal effect on for-profit and mixed-value creation, but a negative effect on non-profit value creation. Meanwhile, the normative pillar has a negative marginal effect on for-profit and mixed-value creation, but a positive effect on non-profit value creation. The cultural pillar has a negative marginal effect on for-profit and mixed-value creation, but a positive effect on non-profit value creation. Furthermore, income inequality moderates positive the relationship between normative pillar and for-profit and mixed-value creation, while economic uncertainty moderates negative the relationship between normative pillar and for-profit and mixed-value creation. Our research contributes to the literature by providing a nuanced understanding of how institutional pillars can act as drivers or barriers for different entrepreneurial forms, evidence of how uncertainty interacts with institutional forces to shape value creation decisions, and insights into the distinctive attributes of different entrepreneurial forms. Our findings have implications for public policy development.Publication Intrahousehold bargaining power and time allocation for multiple activities(2023) Cardenas Retamal, Roberto; Barrientos Cifuentes, Manuel; Vásquez Lavín, Felipe; Ponce, Roberto D.During the last decades, important policies have been implemented to incorporate women into the labor market, reduce persistent gender inequalities, and balance the time allocation between paid and unpaid work. We assess the Chilean case considering couples’ time allocation with an explicit consideration of intrahousehold bargaining power (relative wages and education). The Chilean case is interesting because we use the first urban national survey of time use, which could help understand gender differences in labor participation. We estimate a demand model, specifically a Multiple Discrete-Continuous Extreme Value (MDCEV) model considering six time-consuming activities on weekdays and weekends. In addition, we assess two hypothetical scenarios, namely, a proxy to childcare availability policy and an increase in women’s relative wages. We found that bargaining indicators are related to how individuals allocate their time, particularly the inverse relationship between the time allocated to housework and paid work. Moreover, we found that increasing women’s bargaining power in terms of wages could produce stronger labor force participation increments. Finally, our simulations show that while women can bridge the gap between paid and unpaid work, they continue to spend more time on domestic activities than men.