Regional labor market adjustment in the United States

Prakash Loungani, Davide Furceri and Mai Dao

No 733, 2015 Meeting Papers from Society for Economic Dynamics

Abstract: We examine patterns of regional adjustments to shocks in the US during the past four decades. We find that the response of interstate migration to relative labor market conditions has decreased, while the role of the unemployment rate as absorber of regional shocks has increased. However, the response of net migration to regional shocks is stronger during aggregate downturns and increased particularly during the Great Recession. We offer a potential explanation for the cyclical pattern of migration response based on the variation in consumption risk sharing.

Date: 2015
New Economics Papers: this item is included in nep-ure
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Citations: View citations in EconPapers (8)

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Working Paper: Regional Labor Market Adjustments in the United States (2014)
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