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DTSTART;TZID=Europe/Helsinki:20230117T121500
DTEND;TZID=Europe/Helsinki:20230117T133000
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SUMMARY:Suzanne Bellue (University of Mannheim) "Why Don’t Poor Families Move? A Spatial Equilibrium Anaylsis of Parental Decisions with Social Learning"
DESCRIPTION:The Macroeconomics Seminar:\nTime: 12:15 pm – 13:30 pm\nDate: 17th of January 2023 \nRoom 3001 \nSuzanne Bellue (University of Mannheim) “Why Don’t Poor Families Move? A Spatial Equilibrium Anaylsis of Parental Decisions with Social Learning” \nAbstract : “: In the United States\, childhood neighborhood quality shapes adulthood economic opportunities. However\, most children raised in bottom-quality neighborhoods still live in low-quality neighborhoods in adulthood. Could childhood neighborhood directly affect adulthood choices? I develop a quantitative spatial model of parental decisions that incorporates a novel mechanism: social learning about the technology of skill for-mation. Segregation generates information frictions that systematically distort parents’ subjective beliefs and behavior. I calibrate the model using several United States representative datasets. The calibrated model matches targeted and non-targeted parental behavior and generates an endogenous distribution of subjective beliefs. I find a relatively modest level of delusion that increases the income Gini index by 3% and the intergenerational rank-rank slope by 12%. A housing voucher policy improves the neighborhood quality of eligible families\, raising children’s future earnings. When scaling up the policy\, long-run and general equilibrium responses in subjective beliefs amplify the policy effects. Inequality reduces\, and intergenerational mobility improves. ” \n  \nSponsors:\nCREST \n
URL:https://crest.science/event/suzanne-bellue-university-of-mannheim-why-dont-poor-families-move-a-spatial-equilibrium-anaylsis-of-parental-decisions-with-social-learning/
CATEGORIES:Macroeconomics
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