elasticity is twice as high for within-EU migration, reflecting the higher degree of labor mobility within the European Union. We …

of adjustment to these shocks are then compared to the results from US regional data. We find that the underlying shocks … are significantly more idiosyncratic across EC countries than across US regions, which may indicate that the EC will find … neighbors, experience shocks of similar magnitude and cohesion as the US regions. EC countries also exhibit a slower response to …

the regional level. Additionally, we compare Euro Area mobility to that of another currency union, the US. We find that … the population to employment elasticity estimated for foreign-born persons is similar in the Euro Area and the US, while … EA natives are definitely less mobile across countries than US natives are across states in response to labor demand …

coefficients show that immigration policies balancing the number of high-skilled and low-skilled immigrants from outside the EU …

and the US. Second, it may improve macroeconomic management by increasing the responsiveness of wages and prices to market …

pattern of the United States. In this paper we compare the US with Germany, Italy, the United Kingdom, and also with Canada …, which is closer to European than the US is in its labor market and fiscal institutions. Europe's (and to some extent Canada …'s) model of regional response differs from that of the US. Changes in relative regional real exchange rates are general small …

. This leads us to distinguish an EC "core" (made up of Germany and its immediate neighbors) and an EC periphery (made up of …