Christopher L. House (University of Michigan, Professor)
Title: Should I Stay or Should I Go? The Response of Labor Migration to Economic Shocks
Abstract: We examine the responsiveness of labor participation, unemployment and labor migration to exogenous variations in labor demand. Our empirical approach considers four instruments for regional labor demand commonly used in the literature. Empirically, we find that labor migration is a significant margin of adjustment for all our instruments. Following an increase in regional labor demand, the initial increase in employment is accounted for mainly through a reduction in unemployment. Over time however, net labor in-migration becomes the dominant factor contributing to increased regional employment. After 5 years, roughly 60 percent of the increase in employment is explained by the change in population. Responses of labor migration are strongest for individuals aged 20-35. Based on historical data back to the 1950s, we find no evidence of a decline in the elasticity of migration to changes in employment.
House 교수는 지역 노동시장의 특성에 대한 최신 연구를 발표하였습니다. 또한 지역 노동시장 간의 이동성에 따른 currency union 하의 통화정책의 효과에 대하여 논의하였습니다.
5월 1일 대우관 323호에서 경제학과 BK 초청 세미나가 진행되었습니다.
[발표 연사 및 주제]
Title: Should I Stay or Should I Go? The Response of Labor Migration to Economic Shocks
Abstract: We examine the responsiveness of labor participation, unemployment and labor migration to exogenous variations in labor demand. Our empirical approach considers four instruments for regional labor demand commonly used in the literature. Empirically, we find that labor migration is a significant margin of adjustment for all our instruments. Following an increase in regional labor demand, the initial increase in employment is accounted for mainly through a reduction in unemployment. Over time however, net labor in-migration becomes the dominant factor contributing to increased regional employment. After 5 years, roughly 60 percent of the increase in employment is explained by the change in population. Responses of labor migration are strongest for individuals aged 20-35. Based on historical data back to the 1950s, we find no evidence of a decline in the elasticity of migration to changes in employment.
House 교수는 지역 노동시장의 특성에 대한 최신 연구를 발표하였습니다. 또한 지역 노동시장 간의 이동성에 따른 currency union 하의 통화정책의 효과에 대하여 논의하였습니다.
[행사 포스터]