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Regional economic integration and factor mobility in unified Germany

Böhm, Sebastian

(Working Papers SES ; 463)

The massive movement of capital and labor in opposite directions is the most striking characteristic of economic integration of Eastern and Western Germany. Beyond that, wage-setting behavior during the early years of unification and massive public social transfers have affected the transition path of the Eastern economy. In this paper, I set up a two-region open economy model with capital and...

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Migration, Capital Formation, and House Prices

Grossmann, Volker ; Schäfer, Andreas ; Steger, Thomas M.

(Working Papers SES ; 441)

We investigate the effects of interregional labor market integration in a two-sector, overlapping-generations model with land-intensive production in the non-tradable goods sector (housing). To capture the response to migration on housing supply, capital formation is endogenous, assuming that firms face capital adjustment costs. Our analysis highlights heterogeneous welfare effects of labor...

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