This paper was presented at the conference "Unequal incomes, unequal outcomes? Economic inequality and measures of well-being" as part of session 3, "Education and crime in urban neighborhoods." The conference was held at the Federal Reserve Bank of New York on May 7, 1999. The authors examine...

The school finance landscape has changed dramatically in the past thirty years. Most states have undertaken major changes to their school finance programs, motivated principally by the notion that the unequal school resources associated with unequal incomes and community sorting lead to unequal...

We quantify the connection between inequality and business cycles in a medium-scale New Keynesian model with tractable household heterogeneity, estimated with aggregate and cross-sectional data. We find that inequality substantially amplifies cyclical fluctuations. The primary source of this...