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Optimal Public Housing

We study a system of optimal taxes and transfers under private information (Mirrlees 1971) in an urban setting (Mirrlees 1972). We show that rationed, subsidized housing (i.e. public housing) is generally part of the optimal policy whenever the …

The Urban Life Cycle of Households

We build a general equilibrium, heterogeneous agent, incomplete markets version of a classic urban residential choice model. House prices and rents are non-linear functions of location and size. We examine why families with young children move and …