This paper uses block-group data from the US decennial censuses to document changes in concentrated poverty. It provides several substantive and methodological lessons. First, the majority of poor sub-county areas were located (and hidden) in low poverty counties. Second, the 1990s brought large...

We contrast the spatial mismatch hypothesis with what we term the racial mismatchhypothesis - that the problem is not a lack of jobs, per se, where blacks live, but a lack of jobsinto which blacks are hired, whether because of discrimination or labor market networks inwhich race matters. We...

We study the role of race and ethnicity in the investment decisions of mutual fund managers and investors. Funds managed by white-dominant teams allocate larger portfolio weights to firms led by white CEOs compared to funds managed by minority-dominant teams. Nevertheless, white-dominant fund...

The effects of skills achieved in early adulthood—as measured by the Armed Forces Qualifying Test (AFQT) score, the Rotter score, and Deming’s (2017) Social score—are shown to impact education, income, and homeownership levels achieved in later life. Mediation analysis is used to identify...