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Report
Pandemic Control in ECON-EPI Networks
We develop an ECON-EPI network model to evaluate policies designed to improve health and economic outcomes during a pandemic. Relative to the standard epidemiological SIR set-up, we explicitly model social contacts among individuals and allow for heterogeneity in their number and stability. In addition, we embed the network in a structural economic model describing how contacts generate economic activity. We calibrate it to the New York metro area during the 2020 COVID-19 crisis and show three main results. First, the ECON-EPI network implies patterns of infections that better match the data ...
Working Paper
The End of the American Dream? Inequality and Segregation in US Cities
Since the 1980s, the US has experienced not only a steady increase in income inequality, but also a contemporaneous rise in residential segregation by income. What is the relationship between inequality and residential segregation? How does it affect intergenerational mobility? We first document a positive correlation between inequality and segregation, both over time and across metro areas. We then develop a general equilibrium model where parents choose the neighborhood where they raise their children and invest in their children’s education. In the model, segregation and inequality ...