Diverse opportunities lead to more resilient labour markets – study
Minneapolis Fed authors say economic concentration makes it harder for areas to recover from shocks
A diversity of economic opportunities in cities generates sizeable welfare gains for workers, find researchers with the Federal Reserve Bank of Minneapolis.
The paper, published on October 10, examines local labour markets in France. The authors – François de Soyres, Simon Fuchs, Illenin Kondo and Helene Maghin – say those with more diverse economies experience less churn in their workforces during downturns and less pronounced drops in labour inflows.
The authors used a dynamic discrete choice
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