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Reversal of migration flows : a fresh look at the German reunification

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

(Working Papers SES ; 474)

We investigate the dynamic effects of interregional labor market integration on migration flows, capital formation, and the price for housing services. The co-evolution of these variables depends on initial conditions at the time of labor market integration. In an initially capital-poor economy, there may be a reversal of migration flows during the transition to the steady state, while housing...