Big locational unemployment differences despite high labor mobility
成果类型：
Article
署名作者：
Lkhagvasuren, Damba
署名单位：
Concordia University - Canada
刊物名称：
JOURNAL OF MONETARY ECONOMICS
ISSN/ISSBN：
0304-3932
DOI：
10.1016/j.jmoneco.2012.10.004
发表日期：
2012
页码：
798-814
关键词：
摘要：
Considerable labor mobility exists across US states, enough that, if migration arbitrages local unemployment, one might expect very low unemployment differences across states. However, cross-state data reveal large unemployment differences. An equilibrium multi-location model with stochastic worker-location match productivity and within-location trading frictions can account for these facts. In the model, some workers move to, or stay in, a location with high unemployment because they are more productive there than elsewhere. According to the model, labor mobility and aggregate unemployment are negatively related. This prediction is in stark contrast to standard sectoral reallocation theory, but consistent with the US data. (C) 2012 Elsevier B.V. All rights reserved.
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