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The effect of macroeconomic fluctuations on the inflows and outflows of migrants in Spain


  • Aitor Lacuesta

    () (Banco de España)

  • Sergio Puente

    () (Banco de España)


This essay analyzes the impact of economic fluctuations on migration flows. To do so, the determinants of the inflows and outflows of migrants have been estimated. We find significant evidence on the effect that the macroeconomic fluctuations on the short run has on both flows, although the effect on the inflows is greater in number and strength. Therefore it can be expected that in the actual cyclical phase the migrant population growth will decelerate, especially through a reduction in inflows.

Suggested Citation

  • Aitor Lacuesta & Sergio Puente, 2010. "The effect of macroeconomic fluctuations on the inflows and outflows of migrants in Spain," Working Papers 1016, Banco de España;Working Papers Homepage.
  • Handle: RePEc:bde:wpaper:1016

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    File Function: First Spanish version, June 2010
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    More about this item


    Immigration; Outmigration; Business cycle;

    JEL classification:

    • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts

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