Search Results
Working Paper
Heterogeneous Agents Dynamic Spatial General Equilibrium
Dvorkin, Maximiliano
(2023-03-22)
I develop a dynamic model of migration and labor market choice with incomplete markets and uninsurable income risk to quantify the effects of international trade on workers’ employment reallocation, earnings, and wealth. Macroeconomic conditions in different labor markets and idiosyncratic shocks shape agents’ labor market choices, consumption, earnings, and asset accumulation over time. Despite the rich heterogeneity, the model is highly tractable as the optimal consumption, labor supply, capital accumulation, and migration and reallocation decisions of individual workers across ...
Working Papers
, Paper 2023-005
Report
Disaster (over-)insurance: the long-term financial and socioeconomic consequences of Hurricane Katrina
Bleemer, Zachary; Van der Klaauw, Wilbert
(2017-02-01)
Federal disaster insurance?in the form of national flood insurance, the Federal Emergency Management Agency (FEMA), and other programs?is designed to nationally-distribute large geography-specific shocks like earthquakes and hurricanes. This study examines the local longrun net impact of Hurricane Katrina and the subsequent policy response on impacted residents. Using a unique fifteen-year panel of five percent of adult Americans? credit reports, we find higher rates of insolvency and lower homeownership among inundated residents of New Orleans ten years after the storm, relative to their ...
Staff Reports
, Paper 807
Working Paper
Individual Social Capital and Migration
Rupasingha, Anil; Hotchkiss, Julie L.
(2018-03-01)
This paper determines how individual, relative to community, social capital affects individual migration decisions. We make use of nonpublic data from the Social Capital Community Benchmark Survey to predict multidimensional social capital for observations in the Current Population Survey. We find evidence that individuals are much less likely to have moved to a community with average social capital levels lower than their own and that higher levels of community social capital act as positive pull-factor amenities. The importance of that amenity differs across urban/rural locations. We also ...
FRB Atlanta Working Paper
, Paper 2018-3
Journal Article
Why Immigration Is an Urban Phenomenon
Monras, Joan
(2023-07-03)
Immigration is fundamentally an urban phenomenon. Both in the United States and elsewhere, immigrants settle primarily in cities—especially high-wage, high cost-of-living cities. The most likely reason is that immigrants often send a significant share of their income back to their origin country. As a result, they value a city’s high wages and are less discouraged by the high living costs than native-born workers. Migration policies can reinforce this urban concentration pattern.
FRBSF Economic Letter
, Volume 2023
, Issue 16
, Pages 5
Report
Geographical reallocation and unemployment during the Great Recession: the role of the housing bust
Rhee, Serena; Karahan, Fatih
(2013)
This paper quantitatively evaluates the hypothesis that the housing bust in 2007 decreased geographical reallocation and increased the dispersion and level of unemployment during the Great Recession. We construct an equilibrium model of multiple locations with frictional housing and labor markets. When house prices fall, the amount of home equity declines, making it harder for homeowners to afford the down payment on a new house after moving. Consequently, the decline in house prices reduces migration and causes unemployment to rise differently in different locations. The model accounts for ...
Staff Reports
, Paper 605
Journal Article
The causes and consequences of Puerto Rico's declining population
Abel, Jaison R.; Deitz, Richard
(2014)
Puerto Rico?s population has been falling for nearly a decade, and the pace of decline has accelerated in recent years. Although a slowdown in the island?s birthrate has contributed to this decline, a surge in the out-migration of its citizens has been a more important factor. The exodus?which includes a large share of younger people?has hastened population aging, but it has not necessarily led to a ?brain drain.? To counter its population loss, Puerto Rico must not only adopt measures to shore up its economy and expand job opportunities, but also enact fiscal reforms and improve the island?s ...
Current Issues in Economics and Finance
, Volume 20
Discussion Paper
How Has Germany's Economy Been Affected by the Recent Surge in Immigration?
Klitgaard, Thomas; Higgins, Matthew
(2019-05-20)
Germany emerged as a leading destination for immigration around 2011, as the country's labor market improved while unemployment climbed elsewhere in the European Union. A second wave began in 2015, with refugees from the Middle East adding to already heavy inflows from Eastern Europe. The demographic consequences of the surge in immigration include a renewed rise in Germany's population and the stabilization of the country's median age. The macroeconomic consequences are hard to measure but look promising, since per capita income growth has held up and unemployment has declined. Data on ...
Liberty Street Economics
, Paper 20190520
Journal Article
A Welcome for the Talented
Steelman, Aaron
(2018-10)
Book Review of "The Gift of Global Talent: How Migration Shapes Business, Economy & Society" By William R. Kerr, Stanford, Calif.: Stanford University Press, 2019, 237 Pages
Econ Focus
, Issue 4Q
, Pages 27-27
Working Paper
Interregional Migration and Housing Vacancy: Theory and Empirics
Cohen, Jeffrey P.; Crews, Jonas C.; Coughlin, Cletus C.
(2020-10-16)
We examine homeowner vacancy rate interdependencies over time and space through the channel of migration. Our theoretical analysis extends the Wheaton (1990) search and matching model for housing by incorporating interregional spillovers due to some households’ desires to migrate between regions and by allowing for regime-switching behavior. Our empirical analysis of vacancy rates for the entire U.S. and for Census regions provides visual evidence for the possibility of regime-switching behavior. We explicitly test our model by estimating basic Vector Autoregression (VAR) and ...
Working Papers
, Paper 2018-007
Discussion Paper
Urban Marylanders Are Migrating to More Affordable and Smaller Metro Areas
Scavette, Adam; Waters, Keith
(2024-03-07)
With its unemployment rate reaching 1.9 percent in December 2023, Maryland has the tightest labor market in the country, which poses an ongoing hiring challenge for the state's employers. A key contributor to the tightness is the state's slow post-pandemic labor force recovery, especially in the state's inner-ring suburbs of the District of Columbia. While some of the state's former workers and job seekers have dropped out of the labor force but have remained residents, others have left the state altogether, according to recent statistics that placed Maryland in the top 5 states by net ...
Regional Matters
FILTER BY year
FILTER BY Bank
Federal Reserve Bank of Richmond 9 items
Federal Reserve Bank of New York 7 items
Federal Reserve Bank of St. Louis 4 items
Federal Reserve Bank of Atlanta 2 items
Federal Reserve Bank of Philadelphia 2 items
Federal Reserve Bank of San Francisco 2 items
Federal Reserve Bank of Boston 1 items
Federal Reserve Bank of Chicago 1 items
Federal Reserve Bank of Cleveland 1 items
Federal Reserve Bank of Dallas 1 items
Federal Reserve Bank of Minneapolis 1 items
show more (6)
show less
FILTER BY Series
Working Papers 8 items
Staff Reports 4 items
Richmond Fed Economic Brief 3 items
Working Paper 3 items
FRB Atlanta Working Paper 2 items
Liberty Street Economics 2 items
Regional Matters 2 items
Current Issues in Economics and Finance 1 items
Econ Focus 1 items
FRBSF Economic Letter 1 items
Globalization Institute Working Papers 1 items
Profitwise 1 items
Staff Report 1 items
Working Paper Series 1 items
show more (9)
show less
FILTER BY Content Type
Working Paper 15 items
Report 5 items
Discussion Paper 4 items
Journal Article 4 items
Briefing 3 items
FILTER BY Author
Rupasingha, Anil 3 items
Cohen, Jeffrey P. 2 items
Coughlin, Cletus C. 2 items
Crews, Jonas C. 2 items
Dvorkin, Maximiliano 2 items
Gordon, Grey 2 items
Hotchkiss, Julie L. 2 items
Karahan, Fatih 2 items
Monras, Joan 2 items
Scavette, Adam 2 items
Van der Klaauw, Wilbert 2 items
Abel, Jaison R. 1 items
Bakkensen, Laura 1 items
Bleemer, Zachary 1 items
Brummet, Quentin 1 items
Caliendo, Lorenzo 1 items
Carpenter, Surekha 1 items
Deitz, Richard 1 items
Devon, Gorry 1 items
Dicandia, Vittoria 1 items
Dinkelman, Taryn 1 items
Gorry, Aspen 1 items
Guerron-Quintana, Pablo 1 items
Guerrón-Quintana, Pablo 1 items
Heise, Sebastian 1 items
Hershbein, Brad 1 items
Higgins, Matthew 1 items
Imbert, Clément 1 items
Jackson, Osborne 1 items
Khanna, Guarav 1 items
Klitgaard, Thomas 1 items
Koşar, Gizem 1 items
Leung, Charles Ka Yui 1 items
Li, Darius 1 items
Marre, Alexander W. 1 items
Morales, Nicolas 1 items
Ng, Joe Cho Yiu 1 items
Nquyen, Quynh 1 items
Parro, Fernando 1 items
Phan, Toan 1 items
Porzio, Tommaso 1 items
Price, David A. 1 items
Ransom, Tyler 1 items
Reed, Davin 1 items
Rhee, Serena 1 items
Sablik, Timothy 1 items
Schulhofer-Wohl, Sam 1 items
Seror, Marlon 1 items
Shuler, Paul 1 items
Steelman, Aaron 1 items
Stuart, Bryan 1 items
Tang, Edward 1 items
Trachter, Nicholas 1 items
Vannutelli, Silvia 1 items
Waters, Keith 1 items
Williams, Marva 1 items
Zylberberg, Yanos 1 items
show more (52)
show less
FILTER BY Jel Classification
R23 11 items
J61 6 items
R11 4 items
E21 3 items
E24 3 items
F22 3 items
O15 3 items
C24 2 items
C36 2 items
C38 2 items
D71 2 items
F16 2 items
F34 2 items
J24 2 items
J62 2 items
R12 2 items
R13 2 items
R31 2 items
R51 2 items
D14 1 items
D31 1 items
E2 1 items
E20 1 items
F66 1 items
H23 1 items
H43 1 items
H54 1 items
H84 1 items
J00 1 items
J01 1 items
J10 1 items
J21 1 items
J46 1 items
J64 1 items
M51 1 items
O17 1 items
O18 1 items
Q5 1 items
Q54 1 items
R0 1 items
R1 1 items
R10 1 items
R21 1 items
R28 1 items
show more (39)
show less
FILTER BY Keywords
demographics 3 items
immigration 3 items
population 3 items
Markov-switching 2 items
VARs 2 items
cities 2 items
economic geography 2 items
employment 2 items
factor analysis 2 items
immigrants 2 items
international trade 2 items
labor markets 2 items
nonpublic data 2 items
search/matching 2 items
social capital 2 items
spatial equilibrium 2 items
spillovers 2 items
unemployment 2 items
vacancies 2 items
5th district 1 items
African American 1 items
China’s trade 1 items
Current Population Survey 1 items
Europe 1 items
European Union 1 items
Fifth District 1 items
Gentrification 1 items
Germany 1 items
Housing affordability 1 items
IT sector 1 items
India 1 items
Iowa 1 items
Labor market dynamics 1 items
Maryland 1 items
Puerto Rico 1 items
South AFrica 1 items
aggregate labor productivity 1 items
amenities 1 items
bankruptcy 1 items
brain drain 1 items
climate change 1 items
congestion 1 items
debt 1 items
decennial census 1 items
default 1 items
disaster insurance 1 items
disaster risk communication 1 items
dynamic Roy models 1 items
dynamism 1 items
earnings inequality 1 items
employment rates 1 items
endogeneity 1 items
firms 1 items
foreign workers 1 items
general equilibrium 1 items
geographic labor mobility 1 items
geographical reallocation 1 items
homeownership 1 items
household finances 1 items
housing bust 1 items
housing demand 1 items
human capital 1 items
immigration policy 1 items
income 1 items
inequality 1 items
input-output linkages 1 items
internal trade 1 items
labor mobility 1 items
legalization 1 items
local labor markets 1 items
manufacturing employment 1 items
mobility 1 items
mobility frictions 1 items
neighborhood change 1 items
neighborhood characteristics 1 items
occupational switching 1 items
personnel 1 items
population decline 1 items
program evaluation 1 items
public information 1 items
recessions 1 items
remittances 1 items
rural areas 1 items
rural infrastructure 1 items
schools 1 items
sea level rise 1 items
simultaneous equations 1 items
social capital community benchmark survey 1 items
structural breaks 1 items
survey experiment 1 items
time series decomposition 1 items
trade costs 1 items
wage index and household income 1 items
wages 1 items
wealth 1 items
welfare 1 items
welfare effects 1 items
worker mobility 1 items
show more (94)
show less