Refugees, and immigrants more generally, often do not have access to all jobs in the labor market. We argue that restrictions on employment opportunities help explain why immigrants have lower employment and wages than native citizens. To test this hypothesis, we leverage refugees' exogenous...

Based on the current European discussion about immigration policy, this paper gives an overview of central economic consequences of immigration for a host country's labor market. The most important theoretical arguments are presented and evaluated against the available empirical evidence. The...