Immigrants' Labor Supply and Exchange Rate Volatility
利用汇率变动作为外生价格冲击，研究发现美元升值10%导致移民收入下降0.92%，主要通过减少工时实现，且对近期移民、配偶缺席的已婚移民等群体影响更大。
Are an immigrant's decisions affected in real time by her home country's economy? I examine this question by exploiting exchange rate variations as exogenous price shocks to immigrants' budget constraints. I find that in response to a 10 percent dollar appreciation, an immigrant decreases her earnings by 0.92 percent, mainly by reducing hours worked. The exchange rate effect is greater for recent immigrants, married immigrants with absent spouses, Mexicans close to the border, and immigrants from countries with higher remittance flows. A neoclassical interpretation of these findings suggests that the income effect exceeds the cross-substitution effect. Remittance targets offer an alternative explanation.