The Migration Accelerator: Labor Mobility, Housing, and Demand
研究美国国内迁移如何降低接收城市的失业率，发现住房的耐用性导致新建筑和就业激增，迁移放大了本地劳动力需求冲击约三分之一。
What is the role of migration in regional evolutions? I document that within-US migration causes a reduction in the unemployment rate of the receiving city over several years. To establish this causal effect, I construct an instrument using out-migration of other places and predict its destination from historical patterns. The decline in unemployment is due to housing. Housing is durable, so increased demand causes a surge of new houses and construction jobs. Additionally, migrants’ housing demand raises prices, increasing borrowing and nontradable employment. This finding implies the endogenous response of migration amplifies local labor demand shocks by about a third.