Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/251303 
Year of Publication: 
2021
Series/Report no.: 
Sveriges Riksbank Working Paper Series No. 405
Publisher: 
Sveriges Riksbank, Stockholm
Abstract: 
International immigration flows are large, volatile and have recently increased. This paper is the first to study the dynamic effects of immigration shocks on the economy within a search and matching framework. Since the microdata indicates that some of the key macroeconomic effects of immigration are largest in the short run, a steady state analysis would be insufficient. To construct a quantitatively relevant general equilibrium framework, we use extensive Swedish microdata. We then study the effect of a large immigration shock on various macroeconomic aggregates. Due to compositional effects, there is a substantial negative effect on GDP per capita and the employment rate on impact that then decreases over time.
Subjects: 
Immigration
dynamics
search and matching
JEL: 
J21
J31
J61
Document Type: 
Working Paper

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