JP

Events

Category
Date
Title
Presenter/Location
Details
2025/05/16 Fri
16:30〜18:00
Segregation, spillovers, and the locus of racial change (with Matthew Easton and Stephan Thies)
Donald Davis(Columbia University)
京都大学経済研究所本館1階 106 会議室

【Paper】

Abstract:Existing empirical research in economics on neighborhood racial sorting is overwhelmingly premised on the idea that racial preferences for a location depend on the racial shares in that location, without considering potential spatial spillover effects from nearby areas. Does this matter for the way we view the cross-section and dynamics of racial neighborhood segregation? We nest Schelling (1971)’s bounded neighborhood and spatial proximity theories within a discrete choice model, where the key distinction is precisely such spatial spillovers. We simulate the model and examine the data for 1970-2000 for more than 100 U.S. metros. Two features of the data are most compelling: the powerful presence of racial clusters and the fact that drastic racial change is concentrated at the boundary of these clusters. Both point to the spatial proximity model as the proper foundation for a theory of racial neighborhood evolution. We use these insights to revisit prominent results on racial tipping where our theory guides us to distinguish differences by location. While prior research pointed to powerful racial tipping in the form of White exit, we show this is largely driven by theoretically-distinct “biased white suburbanization” leading to White entry in remote areas. In urban areas far from existing Minority clusters, we find zero or small tipping effects, at odds with a bounded neighborhood interpretation. The most consistent effects of tipping, still of modest size, are found in areas adjacent to existing Minority clusters, confirming the relevance of the racial spillovers of the spatial proximity model. Existing research conflates these quite distinct effects. Overall, our results suggests that tipping is a less central feature of racial neighborhood change than suggested in prior research and that greater attention needs to be paid to spatial dimensions of the problem.

2025/05/15 Thu
17:00〜18:30
TBA
Srinivas Arigapudi (Indian Institute of Technology Kanpur)
本館1階会議室またはオンライン開催
2025/04/24 Thu
17:00〜18:30
Noriaki Kiguchi (Kyoto University)
本館1階会議室
2025/04/17 Thu
17:00〜18:30
Yuya Wakabayashi (Kyoto University)
本館1階会議室
2025/04/17 Thu
15:00〜16:30
Optimal Retirement Policies with Private Annuities (with Stephane Verani)
Pei-Cheng Yu(University of New South Wales)
経済研究所 北館2階 N202講義室

要旨:This paper examines the optimal design of retirement policies that rely on private insurance markets while accounting for financial frictions within these markets. We analyze the impact of uninsurable aggregate interest rate shocks in a life-cycle model where the government screens productivity, longevity, and altruism. We show that observing retirees’ annuitization choices helps separate individual types. However, private annuity markets face supply-side inefficiencies due to interest rate risk. To improve market efficiency, the government can issue long-term bonds, supported by interest rate-contingent taxes. Therefore, full privatization can only be optimal without interest rate shocks; otherwise, Social Security remains necessary.

2025/04/10 Thu
17:00〜18:30
Distributional Ambiguity and Misspecification (joint with Lars Peter Hansen, Massimo Marinacci and Tom Sargent)
Fabio Maccheroni (Bocconi University)
本館1階会議室
2025/04/03 Thu
17:00〜18:30
Stochastic games with vanishing stage duration
Sylvain Sorin (Sorbonne University)
本館1階会議室またはオンライン開催
2025/03/28 Fri
15:00〜16:30
Explosive boom and bust with land price bubbles in a macro-finance model
保里俊介(一橋大学)
経済研究所 北館1階 N101・102講義室
2025/03/27 Thu
17:00〜18:30
Kentaro Asai (Kyoto University)
本館1階会議室
2025/03/24 Mon
13:30〜15:00
Xiaodong Zhu(University of Hong Kong)
経済研究所 北館2階 N202講義室
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