Author : Mr.Tamim Bayoumi
Publisher : International Monetary Fund
ISBN 13 : 1498318347
Total Pages : 34 pages
Book Rating : 4.4/5 (983 download)
Book Synopsis Stranded! How Rising Inequality Suppressed US Migration and Hurt Those Left Behind by : Mr.Tamim Bayoumi
Download or read book Stranded! How Rising Inequality Suppressed US Migration and Hurt Those Left Behind written by Mr.Tamim Bayoumi and published by International Monetary Fund. This book was released on 2019-06-03 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using bilateral data on migration across US metro areas, we find strong evidence that increasing house price and income inequality has reduced long distance migration, the type most linked to jobs. For those migrating uphill, from a less to a more prosperous location, lower mobility is driven by increasing house price inequlity, as the disincentives from higher house prices dominate the incentives from higher earnings. By contrast, increasing income inequality drives the fall in downhill migration as the disincentives from lower earnings dominate the incentives from lower house prices. The model underlines the plight of those trapped in decaying metro areas—those “left behind”.