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UID:bed3063539c9ab4956675bb070965f1b
CATEGORIES:Seminars
CREATED:20231221T091814
SUMMARY:Eugenia Gonzalez - Toulouse School of Economics
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nLabor mobility over the business cycle\n\n\nAbstract:\nThis paper studi
 es the macroeconomic effects of internal migration in an economy with labor
  market frictions and quantifies its role in mitigating asymmetric shocks. 
 Labor mobility is viewed as a key mechanism to stabilize the economy from r
 egional shocks in currency unions. However, this view does not consider the
  equilibrium effects of worker mobility in the presence of search frictions
 . First, I gather new evidence connecting individual migration decisions to
  aggregate economic outcomes over the business cycle. I show that during th
 e Great Recession in the United States labor flows across states strongly r
 esponded to changes in economic conditions. Moreover, I show that job-to-jo
 b transitions account for most of the interstate movements, but during down
 turns, there is a significant increase in the relocation of unemployed work
 ers across states. Then, I develop a general equilibrium model with local a
 nd aggregate business cycles in which search frictions are crucial to gener
 ating the observed patterns in the data. I calibrate the model to the U.S. 
 economy and study the implications of labor mobility on local and aggregate
  labor markets.\n
DTSTAMP:20260408T151955Z
DTSTART:20240325T143000Z
DTEND:20240325T160000Z
SEQUENCE:0
TRANSP:OPAQUE
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