|
on Urban and Real Estate Economics |
| By: | Taylor, Brian; Osman, Taner; Thomas, Trevor; Mondschein, Andrew |
| Abstract: | The San Francisco Bay Area regularly experiences some of the most severe traffic congestion in the U.S. This past year both Inrix and the Texas Transportation Institute (TTI) ranked the Bay Area third only to Washington D.C. and Los Angeles in the time drivers spend stuck in traffic. The TTI estimated that traffic congestion cost the Bay Area economy a staggering $3.1 billion in 2014 (Lomax et al., 2015). Such estimates are based on the premise that moving more slowly than free-flow speeds wastes time and fuel, and that these time and fuel costs multiplied over millions of travelers in large urban areas add up to billions of dollars in congestion costs. But while few among us like driving in heavy traffic, do such measures really capture how congestion and the conditions that give rise to it affect regional economies? This study explores this question for the San Francisco Bay Area by examining how traffic congestion is (i) related to a broader and more conceptually powerful concept of access and (ii) how it affects key industries, which are critical to the performance of the region’s economy. |
| Keywords: | Engineering, San Francisco Bay Area, Traffic Congestion, Economic performance |
| Date: | 2016–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsrrp:qt9qf2481r&r=ure |
| By: | Ghani,Syed Ejaz; Grover,Arti; Kerr,William Robert |
| Abstract: | Although many studies consider the spatial pattern of manufacturing plants in developing countries, the role of services as a driver of urbanization and structural transformation is still not well understood. Using establishment level data from India, this paper helps narrow this gap by comparing and contrasting the spatial development of services with that in manufacturing. The study during the 2001-2010 period suggests that (i) services are more urbanized than manufacturing and are moving toward the urban and, by contrast, the organized manufacturing sector is moving away from urban cores to the rural periphery; (ii) manufacturing and services activities are highly correlated in spatial terms and exhibit a high degree of concentration in just a few states and industries; (iii) manufacturing in urban districts has a stronger tendency to locate closer to larger cities relative to services activity; (iv) infrastructure has a significant effect on manufacturing output, while human capital matters more for services activity; and lastly, (v) technology penetration, measured by the penetration of the Internet, is more strongly associated with services than manufacturing. Similar results hold when growth in activity is measured over the study period rather than levels. Manufacturing and services do not appear to crowd each other out of local areas. |
| Keywords: | E-Business,ICT Policy and Strategies,Knowledge Economy,Transport Economics Policy&Planning,Housing&Human Habitats |
| Date: | 2016–06–30 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:7741&r=ure |
| By: | Tyrefors Hinnerich, Björn (Department of Economics); Vlachos, Jonas (Department of Economics, Stockholm University) |
| Abstract: | Sweden has a school voucher system with universal coverage and full acceptance of corporate providers. Using a value added approach, we find that students at upper-secondary voucher schools on average score 0.06 standard deviations lower on externally graded standardized tests in first year core courses. The negative impact is larger among lower achieving students (but not among immigrant students), the same students who are most prone to attend voucher schools. For high achieving students, the voucher school impact is around zero. Comparing internal and external evaluations of the same standardized tests, we find that voucher schools are 0.14 standard deviations more generous than municipal schools in their internal test grading. The greater leniency in test grading is relatively uniform across different groups, but more pronounced among students at academic than vocational programs. The findings are consistent with voucher schools responding more to differences in educational preferences than municipal schools. |
| Keywords: | Voucher schools; Student achievement; Grading standards |
| JEL: | H40 I21 I22 |
| Date: | 2016–06–30 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:iuiwop:1127&r=ure |
| By: | Domina, Thurston; McEachin, Andrew; Hanselman, Paul; Agarwal, Priyanka; Hwang, NaYoung; Lewis, Ryan |
| Abstract: | Schools utilize an array of strategies to match curricula and instruction to students' heterogeneous skills. While generations of scholars have debated "tracking" and its consequences, the literature fails to account for diversity of school-level sorting practices. In this paper we draw upon the work of Sorenson (1970) to articulate and develop empirical measures of five distinct dimensions of school cross-classroom tracking systems: (1) the degree of course differentiation, (2) the extent to which sorting practices generate skills-homogeneous classrooms, (3) the rate at which students enroll in advanced courses, (4) the extent to which students move between tracks over time, and (5) the relation between track assignments across subject areas. Analyses of longitudinal administrative data following 24,000 8th graders enrolled in 23 middle schools through the 10th grade indicate that these dimensions of tracking are empirically separable and have divergent effects on student achievement and the production of inequality. |
| Date: | 2016–07 |
| URL: | http://d.repec.org/n?u=RePEc:ran:wpaper:1155&r=ure |
| By: | Agbelie, Bismark R.D.K. (School of Civil Engineering, Purdue University); Chen, Yang (Division of Economics, Xi'an Jiaotong-Liverpool University); Salike, Nimesh (Division of Economics, Xi'an Jiaotong-Liverpool University) |
| Abstract: | The present paper examines the heterogeneous economic impacts of transportation characteristics, with a consideration of spatial heterogeneity, across Chinese prefecture-level cities. Using data from 237 Chines cities from 2000 to 2012, a random-parameters model was applied to account for the heterogeneity across these cities. The estimation results revealed significant variability across cities, with the computed impacts (elasticity values) of transportation-related features (highway and railway freight volumes, highway passenger volume, urbanization rate, public transit, paved roads, and highway congestion rate) varying significantly across cities. The impacts were mostly positive, except for highway congestion rate. A 1% increase in a city’s highway and railway freight volumes would increase the city’s gross product per capita from 0.0001% to 0.0972% and 0.0001% to 0.0254% across cities in China, respectively. While a 1% increase in highway congestion rate would decrease the city’s gross product per capita by an average of 0.031%. |
| Keywords: | Chinese cities, economic growth, heterogeneity, highway, railway, freight, random-parameters model |
| Date: | 2015–08–03 |
| URL: | http://d.repec.org/n?u=RePEc:xjt:rieiwp:2015-02&r=ure |
| By: | Rünstler, Gerhard; Vlekke, Marente |
| Abstract: | We use multivariate unobserved components models to estimate trend and cyclical components in GDP, credit volumes and house prices for the U.S. and the five largest European economies. With the exception of Germany, we find large and long cycles in credit and house prices, which are highly correlated with a medium-term component in GDP cycles. Differences across countries in the length and size of cycles appear to be related to the properties of national housing markets. The precision of pseudo real-time estimates of credit and house price cycles is roughly comparable to that of GDP cycles. JEL Classification: C32, E32, E44 |
| Keywords: | credit cycle, financial cycles, house prices, model-based filters, unobserved components models |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbwps:20161915&r=ure |
| By: | Morgan, Peter (Asian Development Bank Institute); Regis, Paulo José (Division of Economics, Xi'an Jiaotong-Liverpool University); Salike, Nimesh (Division of Economics, Xi'an Jiaotong-Liverpool University) |
| Abstract: | Credit creation in the housing market has been a key source of systemic financial risk, and therefore is at the center of the debate on macroprudential policies. The loan-to-value (LTV) ratio is a widely-used macroprudential tool aimed at moderating mortgage loan creation, and its effectiveness needs to be estimated empirically. This paper is unique in that it analyzes the effect of LTV on mortgage lending, the direct channel of influence, using a large sample of banks in ten Asian countries. It uses estimation techniques to deal with the large presence of outliers in the data. Robust to outlier estimations show that countries with LTV polices have expanded residential mortgage loans by 6.7% per year while non-LTV countries have expanded by 14.6%, which suggests LTV policies have been effective. |
| Keywords: | macroprudential policies, financial stability, robust to outliers regression, mortgage loan creation |
| JEL: | C23 E58 G21 G28 |
| Date: | 2015–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:xjt:rieiwp:2015-03&r=ure |
| By: | Justin Sirignano; Apaar Sadhwani; Kay Giesecke |
| Abstract: | This paper analyzes multi-period mortgage risk at loan and pool levels using an unprecedented dataset of over 120 million prime and subprime mortgages originated across the United States between 1995 and 2014, which includes the individual characteristics of each loan, monthly updates on loan performance over the life of a loan, and a number of time-varying economic variables at the zip code level. We develop, estimate, and test dynamic machine learning models for mortgage prepayment, delinquency, and foreclosure which capture loan-to-loan correlation due to geographic proximity and exposure to common risk factors. The basic building block is a deep neural network which addresses the nonlinear relationship between the explanatory variables and loan performance. Our likelihood estimators, which are based on 3.5 billion borrower-month observations, indicate that mortgage risk is strongly influenced by local economic factors such as zip-code level foreclosure rates. The out-of-sample predictive performance of our deep learning model is a significant improvement over linear models such as logistic regression. Model parameters are estimated using GPU parallel computing due to the computational challenges associated with the large amount of data. The deep learning model's superior accuracy compared to linear models directly translates into improved performance for investors. Portfolios constructed with the deep learning model have lower prepayment and delinquency rates than portfolios chosen with a logistic regression. |
| Date: | 2016–07 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1607.02470&r=ure |
| By: | Michele Battisti; Giovanni Peri; Agnese Romiti |
| Abstract: | This paper investigates how the size of co-ethnic networks at arrival affected the economic success of immigrants in Germany. Applying panel analysis with a large set of fixed effects and controls, we isolate the association between initial network size and long-run immigrant outcomes. Focusing on refugees – assigned to an initial location independently of their choice – allows a causal interpretation of the estimated coefficient. We find that immigrants initially located in places with larger co-ethnic networks are more likely to be employed at first, but have a lower probability of investing in human capital. In the long run they are more likely to be mis-matched in their job and to earn a lower wage. |
| JEL: | J24 J61 R23 |
| Date: | 2016–07 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:22389&r=ure |
| By: | C. Kirabo Jackson; Alexey Makarin |
| Abstract: | We analyze an experiment in which middle-school math teachers were randomly given access to “off-the-shelf” lessons designed to develop students’ deep understanding. These lessons were provided online, but are designed to be taught by teachers in a traditional classroom setting. Teaching involves multiple complementary tasks, but we model two: imparting knowledge and developing understanding. In our model, lessons designed to develop understanding substitute for teacher effort on this task so that teachers who may only excel at imparting knowledge can be effective overall – simplifying the job of teaching. Providing teachers with online access to the lessons with supports to promote their use increased students’ math achievement by about 0.08 of a standard deviation. These effects appear to be mediated by the lessons promoting deep understanding, and teachers therefore being able to provide more individualized attention. Benefits were much larger for weaker teachers, suggesting that weaker teachers compensated for skill deficiencies by substituting the lessons for their own efforts. The intervention is highly scalable and is more cost effective than most policies aimed at improving teacher quality. |
| JEL: | I20 J0 J48 |
| Date: | 2016–07 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:22398&r=ure |
| By: | Somwrita Sarkar; Sanjay Chawla |
| Abstract: | Inference methods in traditional statistics, machine learning and data mining assume that data is generated from an independent and identically distributed (iid) process. Spatial data exhibits behavior for which the iid assumption must be relaxed. For example, the standard approach in spatial regression is to assume the existence of a contiguity matrix which captures the spatial autoregressive properties of the data. However all spatial methods, till now, have assumed that the contiguity matrix is given apriori or can be estimated by using a spatial similarity function. In this paper we propose a convex optimization formulation to solve the spatial autoregressive regression (SAR) model in which both the contiguity matrix and the non-spatial regression parameters are unknown and inferred from the data. We solve the problem using the alternating direction method of multipliers (ADMM) which provides a solution which is both robust and efficient. While our approach is general we use data from housing markets of Boston and Sydney to both guide the analysis and validate our results. A novel side effect of our approach is the automatic discovery of spatial clusters which translate to submarkets in the housing data sets. |
| Date: | 2016–07 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1607.01999&r=ure |
| By: | Dolega, Les; Celińska-Janowicz, Dorota |
| Abstract: | The concept of resilience has gained much attention in recent academic and political discussion. However, its application to specific sectors, such as retail, is rather scarce. The aim of this paper is to present the concept of resilience and to analyse its applicability to the retail sector within the context of the town centre. The paper proposes a possible analytical framework for adaptively resilient retail centres that links the performance of retail centres to underlying development paths, the pre-shock position in the adaptive cycle, and other factors that drive their evolutionary reorganisation. The proposed framework has a practical application for spatial and urban planning and can be beneficial to various stakeholders and practitioners, including retailers, policy makers, and town centre managers. |
| Keywords: | adaptation, shopping, adaptive cycle, retail centre |
| JEL: | O18 O20 R00 R30 R38 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:72319&r=ure |
| By: | OECD |
| Abstract: | This paper analyses the role of cities in energy policies to build resilience and assesses related energy policy practices in cities. It analyses how energy affects resilience in cities from the economic, environmental, social and institutional perspectives. It also assesses the policy practices of six cities; Barcelona (Spain), Bristol (UK), Kyoto (Japan), Munich (Germany), Perpignan (France) and Toronto (Canada). This paper outlines the building blocks of key policy strategies; adaptive energy management, robust energy management, redundant energy management, flexible energy management, inclusive energy management, resourceful energy management and integrated energy management. It proposes a number of policy measures in the building blocks for managing energy smartly in cities to build resilience. |
| Keywords: | energy, resilience, cities, urban development, renewables |
| JEL: | Q48 Q54 R11 R58 |
| Date: | 2016–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:oec:govaab:2016/5-en&r=ure |
| By: | Riccardo Crescenzi; Kerwin Datu; Simona Iammarino |
| Abstract: | Although one of the core questions in the study of multinational enterprises (MNEs) has been typically that of where their different operations take place, the spatial dimension of MNE investments and functions is still relatively underexplored in the literature. This paper investigates the networks formed by Foreign Direct Investment (FDI) by applying network analysis techniques drawn from the world city network literature. Data is extracted from the fDi Markets database to describe and analyse the geography of FDI flows between a set of 3,500 cities and towns within the European Union (EU) Member States and their neighbourhood. The paper identifies hierarchical patterns of relations between different types of locations, and gains a finer-scaled appreciation of sectoral and functional specialisations of different regions within Europe. |
| Date: | 2016–07 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:1616&r=ure |
| By: | Bobba, Matteo; Frisancho, Veronica |
| Abstract: | This paper examines the role of perceived academic ability in shaping curricular choices in secondary school. We design and implement a field experiment that provides individualized feedback on performance in a mock version of the admission test taken to gain entry into high school in the metropolitan area of Mexico City. This intervention reduces the gap between expected and actual performance, shrinks the variance of the individual ability distributions and shifts stated preferences over high school tracks, with better performing students choosing more academically-oriented options. Such a change in application portfolios affects placement outcomes within the school assignment system, while it does not seem to entail any short-term adjustment costs in terms of high school performance. Guided by a simple model in which Bayesian agents choose school tracks based on their perceived ability distribution, we empirically document the interplay between variance reductions and mean changes in beliefs enabled by the information intervention. |
| Keywords: | information, Bayesian updating, biased beliefs, school choice. |
| JEL: | D83 I21 I24 J24 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:tse:wpaper:30494&r=ure |
| By: | Tsvetkova, Alexandra |
| Abstract: | This paper tests the effect of diversity, creativity and localized competition on firm formation in US computer and electronic product manufacturing within the knowledge spillover theory of entrepreneurship (KSTE) framework. Fixed effects instrumental variable estimation results support the KSTE contention of a positive relationship between knowledge and entrepreneurship. Industrial diversity and diversity of knowledge tend to promote endogenous firm entry, whereas evidence on other factors is mixed. This points to sensitivity of conclusions in the KSTE literature to regional and industrial environments and calls for caution in interpreting and generalizing findings obtained in various settings. |
| Keywords: | innovation, entrepreneurship, firm formation, knowledge spillover theory of entrepreneurship, computer and electronic product manufacturing |
| JEL: | O1 O3 R1 R11 |
| Date: | 2016–04–19 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:72349&r=ure |
| By: | Stiglic, M.; Agatz, N.A.H.; Savelsbergh, M.W.P.; Gradisar, M. |
| Abstract: | Seamless integration of ride-sharing and public transit may offer fast, reliable, and affordable transfer to and from transit stations in suburban areas thereby enhancing mobility of residents. We investigate the potential benefits of such a system, as well as the ride-matching technology required to support it, by means of an extensive computational study. |
| Keywords: | ride-sharing, public transit, mobility, sustainable transportation |
| Date: | 2016–07–05 |
| URL: | http://d.repec.org/n?u=RePEc:ems:eureri:93121&r=ure |
| By: | Cenkhan Sahin |
| Abstract: | This paper develops a general equilibrium model featuring tax deductible mortgage interest. There are two main results: (i) a higher mortgage interest deduction leads to higher house prices, more levered households, and a higher rate of mortgage default; (ii) when mortgage risk is high the presence of mortgage interest deduction leads to more volatile responses of the main macro-variables to exogenous shocks (i.e. preference, productivity, and mortgage riskiness shocks). The empirical and theoretical evidence presented support the idea that mortgage interest deductibility may be a relevant factor in the occurrence of homeowner foreclosures. |
| Keywords: | Mortgage interest deduction; house prices; mortgage default; DSGE |
| JEL: | E32 E44 |
| Date: | 2016–07 |
| URL: | http://d.repec.org/n?u=RePEc:dnb:dnbwpp:514&r=ure |
| By: | Ben Fine (School of Oriental and African Studies); Kate Bayliss (School of Oriental and African Studies); Mary Robertson (The University of Leeds) |
| Abstract: | This paper addresses the impact of financialisation on the systems of provision (SoPs) drawing on a series of case studies in housing and water – both non-financial sectors. In order to understand this more fully, the paper first considers some of the theoretical constructs connecting money, commodities and finance, exploring the theories of money, the extension of that theory to finance and the specification of the processes attaching finance to the non-financial. The paper shows that both case-study sectors have increasingly been subject to market forms with, for example, land markets in housing and cost recovery practices in water provision. However there are different forms of monetary relations across the case studies. Simply to equate financialisation with commodification would be misleading. The diversity of arrangements across sectors and locations is addressed in the paper by making the distinction between commodification (production for private profits), the commodity form (periodic payments for a good or service in the absence of a profit motive) and commodity calculation (application of a monetary logic without money changing hands). Each of these is associated with different forms of marketization and “market forces” but they are underpinned by different economic and social structures. The paper then goes on to tie these insights to financialisation and contemporary capitalism more generally with reference to the case studies. For housing there is variegation in the extent to which the expansion of finance coincides with expansion of material provision, as shown with for example the different outcomes from expanding lending for house production as opposed to mortgage lending for consumption. In water, there is diversity in the extent and nature of privatisation and this has led to differences in the extent and depth of financial intervention across the case studies. England and Wales lies at one extreme with heavily entrenched financialisation while this is considerably less significant in the case studies with less privatisation. The final section of this paper considers the implication of the different forms of financialisation for economic and social reproduction including gender. |
| Keywords: | financialisation, neoliberalism, housing, water, privatisation |
| JEL: | H4 L95 L33 R31 R38 P16 P1 P10 |
| Date: | 2016–04–30 |
| URL: | http://d.repec.org/n?u=RePEc:fes:wpaper:wpaper156&r=ure |
| By: | Angrisani, Marco; Hurd, Michael D.; Rohwedder, Susann |
| Abstract: | We use panel data at the household level on a complete inventory of household spending and assets to estimate the spending response to the sharp and largely unexpected declines in house and stock market prices that occurred in the Great Recession. Our data span the period 2001-2011, so that we are able to separate trends in spending from innovations in response to unexpected wealth change. We find the marginal propensity to consume out of an unexpected housing wealth change to be seven cents per dollar, and about four cents per dollar out of financial wealth. |
| Date: | 2015–03 |
| URL: | http://d.repec.org/n?u=RePEc:ran:wpaper:1101&r=ure |
| By: | Bobba, Matteo; Gignoux, Jérémie |
| Abstract: | When potential beneficiaries share knowledge and attitudes about a policy intervention, that can influence their decisions to participate and, in turn, change the effectiveness of both the policy and its evaluation. This matters notably in integrated social policies with several components. We examine spillover effects on the take-up of the schooling subsidy component of the Progresa-Oportunidades program in rural Mexico by exploiting exogenous variations in the local frequency of beneficiaries generated by the program's randomized evaluation. Higher treatment frequency in the areas surrounding the evaluation villages increases the take-up of scholarships and enrollment at the junior-secondary level. These cross-village effects exclusively operate on households receiving another component of the program, and do not carry over larger distances. While several tests reject heterogeneities in impacts due to spatial variations in program implementation, we find suggestive evidence that spillovers stem partly from the sharing of information about the program among eligible households. |
| Keywords: | spatial externalities; knowledge spillovers; peer effects; take-up of social policies; policy evaluation; conditional cash transfers. |
| JEL: | I2 J2 O2 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:tse:wpaper:30496&r=ure |
| By: | Valeria Rueda (Sciences Po and Pembroke College, Oxford); Guillaume Laval (Institut Pasteur); Etienne Patin (Institut Pasteur) |
| Abstract: | This article explores the role of individual cultural distance on income, using the genetic distance as a proxy for cultural distance. We show that cultural distance has heterogeneous predictive power.In particular, culturally distant individuals living in regions with other individuals from more trusting ancestries or less xenophobic ones are more likely to be economically successful. First generation migrants seem to be less likely to success the more culturally distant they are, but this e?ect vanishes as time spent in the USA increases. Our research challenges the static view that cultural di?erences are necessarily an obstacle to economic performance in the long-run. Our interpretation of the results is robust to the use of alternative measures for cultural distance. |
| Keywords: | Cultural Distance, Cultural Diversity, Genetics, Historical Persistence, Labor Participation, Social Capital. |
| JEL: | J61 N30 O15 Z13 |
| Date: | 2016–02–22 |
| URL: | http://d.repec.org/n?u=RePEc:nuf:esohwp:_140&r=ure |
| By: | Etzo, Ivan |
| Abstract: | This paper investigates the impact of migration on both inbound and outbound Japanese tourism flows during the period 2000-2013. The results reveal that the stock of immigrants in Japan represents an important determinant of inbound tourism flows. The effect remains positive and statistically significant after disaggregating the flows by purpose of visit, though the impact is higher for “holiday” than for “business” arrivals. The number of Japanese residing abroad does not affect the inbound tourist arrivals. On the contrary, they exert a noticeable effect on outbound tourism flows, whilst immigrants in Japan seem not to have a significant effect. |
| Keywords: | outbound tourism, inbound tourism, migration, Japan |
| JEL: | F22 L83 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:72457&r=ure |
| By: | OECD |
| Abstract: | Levels of educational attainment do not only vary among countries, but also within them. In many countries, people with tertiary education – usually the most skilled people – are more highly represented in the capital region. Regional employment rates in many countries vary more widely among adults without upper secondary education than among those with upper secondary education or higher. In many countries, the percentage of young people neither in employment nor in education or training (NEET) is twice as high in some regions as in others. |
| Date: | 2016–07–08 |
| URL: | http://d.repec.org/n?u=RePEc:oec:eduaaf:43-en&r=ure |
| By: | Bertoli, Simone (CERDI, University of Auvergne); Fernández-Huertas Moraga, Jesús (Universidad Carlos III de Madrid); Keita, Sekou (CERDI, University of Auvergne) |
| Abstract: | The effect of immigration on host and origin countries is mediated by the way migrants take their labor supply decisions. We propose a simple way of integrating the traditional random utility maximization model used to analyze location decisions with a classical labor demand function at destination. Our setup allows us to estimate a general upper bound on the elasticity of the migrant labor supply that we take to the data using the evolution of the numbers and wages of temporary overseas Filipino workers between 1992 and 2009 to different destinations. We find that the migrant labor supply elasticity can be very large. Temporary migrants are very reactive to economic conditions in their potential destinations. |
| Keywords: | labor supply elasticity, temporary migration, international migration, multilateral resistance to migration |
| JEL: | F22 J31 J38 J61 O15 |
| Date: | 2016–07 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp10031&r=ure |
| By: | Sari Pekkala Kerr; William R. Kerr |
| Abstract: | We examine immigrant entrepreneurship and the survival and growth of immigrant-founded businesses over time relative to native-founded companies. Our work quantifies immigrant contributions to new firm creation in a wide variety of fields and using multiple definitions. While significant research effort has gone into understanding the economic impact of immigration into the United States, comprehensive data for quantifying immigrant entrepreneurship are difficult to assemble. We combine several restricted-access U.S. Census Bureau data sets to create a unique longitudinal data platform that covers 1992-2008 and many states. We describe differences in the types of businesses initially formed by immigrants and their medium-term growth patterns. We also consider the relationship of these outcomes to the immigrants' age at arrival to the United States. |
| JEL: | F22 J15 J44 J61 L26 M13 O31 O32 O33 |
| Date: | 2016–07 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:22385&r=ure |