1976. I find that regional wages decline between 1962 and 1968, before returning to their pre-shock level 15 years after …. While regional wages recovered, this particular supply shock had persistent distributional effects. By increasing the …

performance and welfare. Lower immigration leads to higher wages for low-skilled workers and higher consumer prices. Importantly …We document a steady decline in low-skilled immigration that began with the onset of the Great Recession in 2007, which … estimate a stochastic growth model with endogenous immigration and training to account for these facts and study macroeconomic …

expectations and wages, and a significantly positive relationship between optimistic bias in job finding expectations and … search and matching model of the labor market. Removing the biases could substantially increase wages and expected lifetime …

natives' wages, and that skilled immigration can actually increase them. We develop a model with regional labor markets and … but skill-biased on aggregate, skilled immigration can increase absolute and relative skilled wages. Therefore, firm … migrants are perfect substitutes within a firm. In this setting, a skilled labor supply shock due to immigration has two …

, resulting in gains in terms of both employment and wages for natives, which does not hold for documented immigration. Stricter …This paper explores the impact of undocumented as opposed to documented immigration in a model featuring search … immigrants' wages are the lowest of all workers due to their ineligibility for unemployment benefits and lower wage bargaining …

How skills acquired in vocational education and training (VET) affect wages and employment is not clear. We develop and … wages. We find that firms value cognitive skills on average almost twice as much as interpersonal and manual skills, and … they prize complementarity in cognitive and interpersonal skills. The average return to VET skills in hourly wages is 9 …

-level wages and enjoy greater job security although these advantages disappear over time. …

. Secondly, an increase in skill-biased technological progress means, (i) skilled wages overshoot, (ii) unskilled wages …