The Masters in Finance programs offer you an integrated finance education that covers the most diverse and up to date information on the finance industry and functional area.
Daniel Fernández Kranz
Daniel Fernández Kranz holds a Ph.D. in Economics by the University of Chicago and is currently an Associate Professor and the Chair of the Department of Economic Environment at IE Business School. His research focuses in Empirical Microeconomics in the area of Labor Markets. Before joining IE Business School, Daniel was an Economics Professor at Saint Louis University, Madrid, and an economic consultant at Nera (National Economic Research Associates), in the Chicago, Boston and Madrid offices.
Daniel’s first research focused on the sources of wage inequality between men and women. “When one looks at the factors that explain the wage gap between male and female workers, one element stands out among the rest: children. If we compare the wages of men and women without children responsibilities, the gender gap declines by more than fifty percent”. Daniel applied a methodology to compute and compare the so-called ‘child penalty’ across more than thirty countries. “It was quite surprising to see that in countries with strong equal pay policies, the wage gap between women with and without children is bigger, not smaller, than in other countries.” In trying to explain this counterintuitive result he reckons that “in the former group of countries firms are over-cautious when it comes to hiring decisions, which gets in the way of mothers with young children, who transition in and out of the labor market more often than other workers.” And Daniel adds: “the bigger problem is that these labor market policies can have a deteriorating effect on fertility, contributing to the trend of an ageing or even declining population”.
More recently, Daniel has studied the impact of labor market institutions, most notably the contrast between permanent and fixed-term contracts in Spain, on gender inequality, the child penalty and the possibilities for work-family balance. In a recent study he has found that mummy friendly policies can in fact hurt childbearing aged women in rigid labor market such as Spain’s, the reason being that these kind of policies, which grant rights to working mothers, tend to stop employers from promoting them into permanent positions where they can enjoy the rights granted by the new laws. Eligible women then become trapped in the secondary segment of the labor market, with poor rights and worse working conditions. His work has been published in The Journal of Human Resources, the Industrial and Labor Relations Review, Labour Economics and others.