Studies of inequality often ignore resource allocation within the household. In doing so they miss an important element of the distribution of welfare that can vary dramatically depending on overall environmental and economic factors. Thus, measures of inequality that ignore intra household...

Women who have first births relatively late in life earn higher wages. This paper offers an explanation of this fact based on a staple life-cycle model of human capital investment and timing of first birth. The model yields conditions (that are plausibly satisfied) under which late childbearers...