The Incidence of Local Labor Demand Shocks

• 成果类型: Article
• 署名作者: Notowidigdo, Matthew J.
• 署名单位: University of Chicago; National Bureau of Economic Research
• 刊物名称: JOURNAL OF LABOR ECONOMICS
• ISSN/ISSBN: 0734-306X
• DOI: 10.1086/706048
• 发表日期: 2020
• 页码: 687-725
• 关键词: productivity; adjustment; benefits; QUALITY; college; cities; rents; wages

摘要

Low-skill workers are comparatively immobile. This paper estimates the role of housing prices and social transfers in accounting for this fact using a spatial equilibrium model. Reduced-form estimates using US census data show that positive local labor demand shocks increase population more than negative shocks reduce population, that this asymmetry is larger for low-skill workers, and that such an asymmetry is absent for average wages, housing values, and rental prices. Generalized method of moments estimates reveal that the comparative immobility of low-skill workers is due not to higher mobility costs but to a lower incidence of adverse labor demand shocks.