Internal migration flows from rural to urban areas have greatly contributed to population declines in many rural areas across both Europe and the US. At the same time there is mounting evidence for a tight connection between internal migration and shifts in labor demand, with the latter being...

This paper employs Swedish data on households' stock holdings to investigate how consumption responds to changes in stock market returns. We instrument the actual capital gains and dividend payments with past portfolio weights. Unrealized capital gains lead to a marginal propensity to consume...

Patience affects economic growth, no news. This paper investigates the opposite causal relationship, i.e., how growth influences patience. We propose a simple theoretical framework where heterogeneous parents may choose to transmit their cultural trait - patience - to their offspring. Our model...

This paper builds a dynamic general equilibrium model of cities and uses it to analyze the role of local housing markets and moving costs in determining the character and extent of labor reallocation in the US economy. Labor reallocation in the model is driven by idiosyncratic city-specific...

The impact of living in public rental housing on employment has been the subject of debate internationally. Theory suggests that restrictions on residential mobility, neighborhood effects, and the place-based housing subsidy itself contribute to the higher rates of unemployment often observed...

This paper exploits a natural experiment to study the influence of regional factors on initial and subsequent location choices among immigrants. The results suggest that immigrants to Sweden are attracted to regions with high representation from the individual's birth country and large overall...

This paper investigates the long-term effects on immigrant earnings and employment from labor market conditions encountered upon arrival. We find substantial effects both of the state of the national labor market and of local unemployment rates. Comparing refugees entering Sweden in a severe and...

Many countries consider the residential concentration among immigrants a problem. This paper studies the factors influencing individual location decisions and evaluates a Swedish attempt to change the residential distribution of refugee immigrants in the late 1980's. Despite common perceptions,...

This paper estimates effects of birth place migration networks and other location attributes on destination choices of internal migrants conditional on migration. We also study heterogeneity in the role of these factors for migrant types who differ by skill group, age at migration, and reason of...