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Lecture3 20 07

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Unformatted text preview: 151 lecture Worker and Job Mobility A. Introduction We have been emphasizing “frictions” in the labor market that impede costless mobility as well as institutions in secondary labor markets that may generate too much mobility (“excess churning”). Our focus this week is on mobility—the costs and benefits. We look first at geographic mobility of workers—most of which are not transfers of a job location, but involve changing employers. We will look both at internal migration within the U.S. and international migration to the U.S. [In the following lecture we will look at mobility of workers among jobs and employers, without a necessary geographic change, as well as longevity and returns to workeremployer matches.] B. 1. Migration modeled Quantities: Stock (not flow) of immigrant workers is about 12 percent of stock of U.S. labor force, and perhaps one-third to one-half of the net flow. 2. Human capital model: geographic migration as an economic investment. Usual net present value formula. Assumes...
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