In this paper, we introduce and discuss the passage to hydrodynamic equations for kinetic models of conservative economies, in which the density of wealth depends on additional parameters, like the propensity to invest. As in kinetic theory of rarefied gases, the closure depends on the knowledge...

This chapter considers the role of economic and political institutions in the formation of local public policies. The chapter has three objectives. First, to synthesize the dominant models of local policy formation with mobile households, with particular emphasis on the objectives that are...

This paper surveys the modern economics literature on the role of neighborhoods in influencing socioeconomic outcomes. Neighborhood effects have been analyzed in a range of theoretical and applied contexts and have proven to be of interest in understanding questions ranging from the asymptotic...