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Discussion Paper
Did the Value of a College Degree Decline during the Great Recession?
The authors have previously explored the impact of choices regarding school and major on employment, earnings, and upward economic mobility. In this post they extend their work with an investigation into whether these labor market effects were preserved across the last business cycle: Did students with certain types of educational attainment weather the recession better?
Speech
Welcoming Remarks, Book Launch: Shared Prosperity in America’s Communities
President Patrick T. Harker provides opening remarks at the book launch for Shared Prosperity in America?s Communities, a collection of essays coedited by the Philadelphia Fed?s Community Development Studies & Education Department and the University of Pennsylvania?s Penn Institute for Urban Research. He highlights the importance of engaging in research on inequality and social mobility to promote economic growth.
Journal Article
Neighborhood Sorting, Metros, and Tomorrow’s Labor Force
In this Economic Commentary, we look at how households sort into neighborhoods in different metro areas and analyze these patterns by race, ethnicity, and income. We find that in many metros, Black households face a significant tradeoff between a neighborhood’s Black population share and its socioeconomic status (SES), with many high-income Black households residing in lower SES neighborhoods than is the case for white households of similar income. A similar pattern exists for Hispanic households. Because a neighborhood’s SES correlates with the labor market outcomes of the children who ...