Economics, Econometrics and Finance
5 years ago

Migration shocks drive economic volatility, impacting GDP and housing market.

Journal of Economic Dynamics and Control
Skilled migration and business cycle dynamics
Christie Smith, Christoph Thoenissen

Paper Summary

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Shocks to migration impact the economy's ups and downs. A study shows that migration shocks play a big role in the economy's volatility, affecting GDP, consumption, investment, and housing prices. The level of education of migrants compared to locals also influences how migration affects the economy. When migrants have more education than locals, it can boost the economy.