Local Ties in Spatial Equilibrium†

• 成果类型: Article
• 署名作者: Zabek, Mike
• 署名单位: Federal Reserve System - USA
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MACROECONOMICS
• ISSN/ISSBN: 1945-7707
• DOI: 10.1257/mac.20210326
• 发表日期: 2024
• 页码: 287-317
• 关键词: labor-markets evidence; Place-based policies; economic-development; migration; decline; neighborhoods; determinants; networks; search; IMPACT

摘要

Someone who lives in an economically depressed place was probably born there. And having workers with local ties who prefer to live in their birthplaces leads to smaller migration responses in depressed places. Smaller migration responses lead to lower real incomes and make incomes more volatile , a form of hysteresis. Local ties can also persist for generations. Subsidies to economically depressed places cause smaller distortions , because few people want to move to depressed places. Finally , subsidies to productive places increase aggregate productivity , as they induce more migration. ( JEL J22, J23, J31, J61, R23, Z13 )