Aspirations, Segregation, and Occupational Choice
研究一个代际交叠经济中，家庭居住位置分布如何通过抱负形成、学习溢出或地方公共品影响教育投资决策，并分析隔离与非隔离稳态下的宏观经济与福利差异。
This paper examines the steady states of an overlapping generations economy with a given distribution of household locations over a one-dimensional interval. Parents decide whether or not to educate their children. Educational decisions are affected by location: There are local complementarities in investment incentives stemming from aspirations formation, learning spillovers, or local public goods. At the same time, economy-wide wages endogenously adjust to bring factor supplies into line with demand. The model therefore combines local social interaction with global market interaction. The paper studies steady-state configurations of skill acquisition, both with and without segregation. The model is used to compare macroeconomic and welfare properties of segregated and unsegregated steady states.