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Economic Consequences of Mass Migration: The Venezuelan Exodus in Peru

Cynthia Boruchowicz (), Cesar Martinelli () and Susan Parker ()
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Cynthia Boruchowicz: University of Maryland

No 1080, Working Papers from George Mason University, Interdisciplinary Center for Economic Science

Abstract: We study the effects of mass migration from Venezuela on Peruvian labor markets. In 4239–423:, about :92,222 Venezuelans migrated to Peru; about :6% settled in the Lima metropolitan area, where the percentage of Venezuelans in the working age population went from nil to over 32%. Migrants were more educated in average than the local labor force, and did nor face large cultural barriers. We propose a simple assignment model of the labor market, which suggests that migration will lead to a reallocation of local workers toward lower skill jobs. Using synthetic control methods, and comparing Lima with a group of other Peruvian cities, we find evidence of adjustment in occupational structure in the direction predicted by the model. Overall, market adjustment to a large shock in labor supply was strikingly smooth.

Pages: 58
Date: 2021-05
New Economics Papers: this item is included in nep-int, nep-lam, nep-mig and nep-ure
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