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See detailThe EU-US Unemployment Puzzle Revisited: Institutions, Demography, and Capital Flows
Marchiori, Luca; Pierrard, Olivier; Sneessens, Henri UL

in Journal of Demographic Economics (2017)

The historical evolution of the EU-US unemployment rate gap is often explained in the literature in terms of asymmetric changes in labour market institutions. Population aging is another potential source ... [more ▼]

The historical evolution of the EU-US unemployment rate gap is often explained in the literature in terms of asymmetric changes in labour market institutions. Population aging is another potential source of asymmetry. Asymmetric population aging may generate international capital flows and have a substantial impact on relative unemployment rates. In this paper, we examine whether the combination of institutions, aging and capital flows explains the rise in the gap between 1960 and 2010. To this end, we set up a two-region overlapping generation model with search unemployment in which we introduce the historical and projected changes in labour market institutions and demographic evolutions. We show that asymmetric institutional changes alone can reproduce a large part of the historical rise in the unemployment gap. However, this result does not hold anymore once we add asymmetric aging in closed economies. We are nevertheless able to restore and even improve the initial result when we allow for international capital mobility. [less ▲]

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See detailDissecting Network externalities in International Migration
Beine, Michel UL; Docquier, Frederic; Ozden, Caglar

in Journal of Demographic Economics (2015), 81(4), 379-408

Migrant networks play an important role in explaining the size and structure of migration flows. They affect the private costs and benefits of migration (assimilation channel) and lower legal entry ... [more ▼]

Migrant networks play an important role in explaining the size and structure of migration flows. They affect the private costs and benefits of migration (assimilation channel) and lower legal entry barriers through family reunification programs (policy channel). This paper presents a microfounded identification strategy allowing to disentangle the relative importance of these two channels. Our empirical analysis exploits U.S. immigration data by metropolitan area and country of origin. We first confirm that the overall network externality is strong (the elasticity of migration flows to network size is around one). More interestingly, we show that only a quarter of this elasticity is accounted for by the policy channel for the 1990-2000 period, and the magnitudes of the total network effect and the policy channel are greater for low-skilled migrants. Our results are strongly robust to sample selection, identification assumptions, and treatment for unobserved bilateral heterogeneity. Finally, the policy channel was stronger in the 1990s than in the 1980s, possibly reflecting the changes in the U.S. family reunification policy. [less ▲]

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