Labor Reallocation over the Business Cycle: New Evidence from Internal Migration
AbstractThis article establishes the cyclical properties of a novel measure of worker reallocation: long-distance migration rates within the United States. Combining evidence from a number of data sets spanning the entire postwar era, we find that internal migration within the United States is procyclical. This result cannot be explained by cyclical variation in relative local economic conditions, suggesting that the net benefit of moving rises during booms. Migration is most procyclical for younger labor-force participants. Therefore, cyclical fluctuations in the net benefit of moving appear to be related to conditions in the labor market and the spatial reallocation of labor.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Labor Economics.
Volume (Year): 29 (2011)
Issue (Month): 4 ()
Pages: 697 - 739
Contact details of provider:
Web page: http://www.journals.uchicago.edu/JOLE/
Other versions of this item:
- Raven E. Saks & Abigail Wozniak, 2007. "Labor reallocation over the business cycle: new evidence from internal migration," Finance and Economics Discussion Series 2007-32, Board of Governors of the Federal Reserve System (U.S.).
- Saks, Raven E. & Wozniak, Abigail, 2007. "Labor Reallocation over the Business Cycle: New Evidence from Internal Migration," IZA Discussion Papers 2766, Institute for the Study of Labor (IZA).
- J6 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
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