文章基本信息

标题：Immigration and the macroeconomy: some new empirical evidence
本地全文：下载
作者：Francesco Furlanetto ; 豶jan Robstad
期刊名称：Documentos de Trabajo / Banco de España
印刷版ISSN：0213-2710
电子版ISSN：1579-8666
出版年度：2017
卷号：1
出版社：Banco de España
摘要：We propose a new VAR identifi cation scheme that enables us to disentangle immigration shocksfrom other macroeconomic shocks. Identifi cation is achieved by imposing sign restrictions onNorwegian data over the period 1990Q1 - 2014Q2. The availability of a quarterly series fornet immigration is crucial to achieving identifi cation. Notably, immigration is an endogenousvariable in the model and can respond to the state of the economy. We fi nd that domesticlabour supply shocks and immigration shocks are well identifi ed and are the dominant driversof immigration dynamics. An exogenous immigration shock lowers unemployment (evenamong native workers), has a small positive effect on prices and on public fi nances, no impacton house prices and household credit, and a negative effect on productivity.
关键词：labour supply shocks; immigration shocks; job-related immigration; identifi cation; VAR