Search

The Omicron wave was the largest wave of COVID-19 pandemic to date, more than doubling any other in terms of cases and hospitalizations in the United States. In this paper, we present a large-scale agent-based model of policy interventions that could have been implemented to mitigate the Omicron wave. Our model takes into account the behaviors of individuals and their interactions with one another within a nationally representative population, as well as the efficacy of various interventions such as social distancing, mask wearing, testing, tracing, and vaccination. We use the model to simulate the impact of different policy scenarios and evaluate their potential effectiveness in controlling the spread of the virus. Our results suggest the Omicron wave could have been substantially curtailed via a combination of interventions comparable in effectiveness to extreme and unpopular singular measures such as widespread closure of schools and workplaces, and highlight the importance of early and decisive action.

This paper simulates a system of socioeconomic status (SES)-based affirmative action in college admissions and examines the extent to which it can produce racial diversity in selective colleges. Using simulation models, we investigate the potential relative effects of race- and/or SES-based affirmative action policies, alongside targeted, race-based recruitment, on the racial and socioeconomic distribution of students in colleges. These simulations suggest three important patterns: (1) neither SES-based affirmative action nor race recruiting policies on their own can reproduce levels of racial diversity achieved by race-based affirmative action; however, SES-based affirmative action in combination with targeted recruitment, although likely expensive, shows the potential to yield racial diversity levels comparable to race-based affirmative action; (b) the use of affirmative action policies by some colleges reduces the diversity of similar-quality colleges that do not have such policies; (c) overall, the combination of SES-based affirmative action and race recruiting results in slightly fewer Black and Hispanic students that are academically overmatched than under race-based affirmative action, but the schools that use the combination policy also see an overall reduction in the academic achievement of the students they enroll.

There is currently a great deal of interest in the potential of reductions in or elimination of the cost of college attendance for students (here referred to as college subsidies) to increase equitable access to higher education. A number of Democratic presidential candidates have advanced proposals for such programs. However, because colleges and students differ in ways that are likely related to how subsidies might affect enrollment and because there is a large amount of interdependence between colleges and students over time (i.e. "spillover"), we cannot directly extrapolate from the relatively small number of moderately large-scale subsidy programs that have been rigorously evaluated to predict the effects of programs with alternative specifications (e.g. eligibility requirements or scale) on enrollment patterns. Therefore, we turn to a computational modeling approach ("Agent-based modeling") that allows us to explicitly simulate individual college and student decisions over time. Our model is grounded in a strong body of evidence about how students and colleges make application, admissions, and enrollment decisions given different salient attributes (e.g. family resources) and imperfect information. We use the model to explore the potential impact of different prospective college subsidy programs. We find that when subsidies have substantial effects, these tend to have direct effects (i.e. an increase in eligible students' enrollment in subsidized colleges) as well as indirect effects (i.e. a decrease in eligible students' enrollment in unsubsidized colleges). Program impacts are strongest when the programs themselves are limited in scope: smaller than full-scale (i.e. national-level programs), with eligibility restricted to higher-achieving students, and not all colleges subsidized.

The lack of basic financial knowledge and skills among youth today is of national concern. American high school students routinely fail tests that evaluate their financial knowledge and are ill-prepared to face important decisions about borrowing, saving, investing, and planning for their financial futures. The consequences of these low levels of financial literacy can be significant. Low financial literacy is correlated with a host of negative credit behaviors, including higher borrowing rates, mortgage delinquency, and home foreclosure. Financial literacy also influences important decisions about education. Youth with no savings account are less likely to attend college, and for those in college, financial stress and credit card debt have been tied to an increased likelihood of missing class and dropping out. States have a vested interest in the economic health of their citizens, making low financial literacy an important issue for policymakers. Public education before high school graduation can play a role in improving financial literacy and promoting sound financial decision-making. Yet many--if not most--financial education efforts focus on college students and adults. Such efforts are often reactive rather than proactive, and may be too little too late. In contrast, earlier education initiatives during and before high school can target individuals before they have had the opportunity to get into serious financial trouble and become entrenched in negative behaviors. Research suggests that introducing children and adolescents to general concepts, such as responsible spending and good saving habits, may pay dividends later in life by establishing the building blocks for financial well-being in adulthood. This review first presents a holistic framework of financial literacy that reflects the various ways it has been defined by researchers and practitioners. It then examines state efforts to incorporate financial literacy education into their K-12 standards, mandates, and curricula, and review research on the effectiveness of these policies on student outcomes. Finally, the authors highlight a number of financial education organizations, programs and resources--both public and private--that have had positive impact on K-12 students, and describe their design and influence.