Labor Reallocation over the Business Cycle: New Evidence from Internal Migration
利用美国战后多个数据集，发现国内长距离迁移率是顺周期的，且不能由地方经济条件差异解释，表明经济繁荣时迁移净收益上升，尤其对年轻劳动力影响显著。
This 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.