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Slowdown in immigration, labor shortages, and declining skill premia

Abstract:

We document a steady decline in low-skilled immigration that began with the onset of the Great Recession in 2007, which was associated with labor shortages in low-skilled service occupations and a decline in the skill premium. Falling returns to high-skilled jobs coincided with a decline in the educational attainment of native-born workers. We develop and estimate a stochastic growth model with endogenous immigration and training to account for these facts and study macroeconomic performance ...

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Institution:
University of Oxford
Division:
SSD
Department:
Economics
Oxford college:
Wadham College
Role:
Author
Publisher:
University of Oxford
Series:
Department of Economics Discussion Paper Series
Publication date:
2024-06-30
Paper number:
1047
Language:
English
Keywords:
Pubs id:
2011431
Local pid:
pubs:2011431
Deposit date:
2024-07-02

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