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dc.contributor.authorNenov, Plamen T.
dc.date.accessioned2016-01-22T11:25:17Z
dc.date.available2016-01-22T11:25:17Z
dc.date.issued2015
dc.identifier.citationReview of Economic Dynamics, 18(2015)4:863-880nb_NO
dc.identifier.issn1094-2015
dc.identifier.issn1096-6099
dc.identifier.urihttp://hdl.handle.net/11250/2374552
dc.descriptionThis is the author's accepted and refereed manuscript of the articlenb_NO
dc.description.abstractMigration 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.isoengnb_NO
dc.publisherElseviernb_NO
dc.titleRegional reallocation and housing markets in a model of frictional migrationnb_NO
dc.typeJournal articlenb_NO
dc.typePeer reviewednb_NO
dc.source.journalReview of Economic Dynamicsnb_NO
dc.identifier.doi10.1016/j.red.2015.08.002
dc.description.localcode2, Forfatterversjonnb_NO


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