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UID:94fe8e9bbecbe4f9db720c61aaf4927d
CATEGORIES:Seminars
CREATED:20170418T184037
SUMMARY:Lunch Seminar: Alessandra Fogli - Federal Reserve Bank of Minneapolis
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:The End of the American Dream? Inequality and Segregation in US cities (wit
 h Veronica Guerrieri)\nAbstract:\nThis paper explores the dynamic relations
 hip between income inequality, segregation and mobility. Using data from th
 e 100 largest US metropolitan areas, we document a large increase in inequa
 lity and segregation over the last four decades and a strong relationship b
 etween them both in the time series and in the cross section. We develop a 
 general equilibrium overlapping generation model in which income inequality
  and segregation are both endogenous and feed on each other. Agents make re
 sidential choices and invest in their children's education. Neighborhoods d
 iffer in the education composition of their residents which, in turn, affec
 ts the return from investing in education. High inequality, through housing
  prices, drives up the residential sorting of families in neighborhoods. As
  society becomes more segregated, the return from investing in children's e
 ducation endogenously diverge between low and high income families. A large
 r differential in the return from education translates into a larger gap in
  children's educational outcomes, lower intergenerational mobility and high
 er inequality in the following generation. Using data on children's test sc
 ores from US school districts, we show that the relationship between childr
 en's educational outcomes and parental income is significantly stronger in 
 highly segregated metropolitan areas.\n\n\n \n
DTSTAMP:20260406T181112Z
DTSTART:20160727T130000Z
DTEND:20160727T140000Z
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