The efficacy of the widely-adopted “top-n” policy in university integration has been questioned because students strategically relocate to low-achieving high schools. We show that when different SES groups have heterogenous relocation costs, the policy can even segregate minorities from the...

This paper offers several contributions to actual research and discussion on monetary policy. It clarifies the relationship between uncertainty of inflation persistence and optimal monetary policy and discusses the consequences of the recent Blanchard proposal to implement a higher inflation...