dc.contributor.author | Nenov, Plamen T. | |
dc.date.accessioned | 2016-01-22T11:25:17Z | |
dc.date.available | 2016-01-22T11:25:17Z | |
dc.date.issued | 2015 | |
dc.identifier.citation | Review of Economic Dynamics, 18(2015)4:863-880 | nb_NO |
dc.identifier.issn | 1094-2015 | |
dc.identifier.issn | 1096-6099 | |
dc.identifier.uri | http://hdl.handle.net/11250/2374552 | |
dc.description | This is the author's accepted and refereed manuscript of the article | nb_NO |
dc.description.abstract | Migration frictions are important for understanding key features of gross migra-
tion and housing markets. This paper studies a multi-region equilibrium model with
frictional migration. Idiosyncratic preference shocks, a mobility cost, and imperfectly
directed migration lead to slow worker reallocation in response to changes in local
conditions. This leads to a dependence of local house prices on the history of labor
market shocks. The model accounts for the comovements of unemployment and rental
and house prices with gross migration observed in a panel of U.S. cities. Structural
estimation reveals a high mobility cost for unemployed workers and a low probability
of directed migration. Both of these imply that regional reallocation has a limited
importance for the aggregate labor market and that the e ects of housing markets on
reallocation are small. | nb_NO |
dc.language.iso | eng | nb_NO |
dc.publisher | Elsevier | nb_NO |
dc.title | Regional reallocation and housing markets in a model of frictional migration | nb_NO |
dc.type | Journal article | nb_NO |
dc.type | Peer reviewed | nb_NO |
dc.source.journal | Review of Economic Dynamics | nb_NO |
dc.identifier.doi | 10.1016/j.red.2015.08.002 | |
dc.description.localcode | 2, Forfatterversjon | nb_NO |