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Strathprints serves world leading Open Access research by the University of Strathclyde, including research by the Strathclyde Institute of Pharmacy and Biomedical Sciences (SIPBS), where research centres such as the Industrial Biotechnology Innovation Centre (IBioIC), the Cancer Research UK Formulation Unit, SeaBioTech and the Centre for Biophotonics are based.

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Migration equilibria disequilibria and the natural rate of unemployment in a regional context

McGregor, P.G. and Swales, J.K. and Yin, Y.P. (1995) Migration equilibria disequilibria and the natural rate of unemployment in a regional context. International Journal of Manpower, 16 (2). pp. 66-72. ISSN 0143-7720

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Abstract

In this article, we examine, in an explicitly system-wide context, the theory of regional equilibria in the presence of endogenous migration of the form specified in Layard et al. (1991) and Treyz et al. (1993), where net migration flows (relative to lagged labour force) are determined by real consumption wage and unemployment-rate differentials. Accordingly, we provide a theoretical analysis of the importance of both market-clearing and steady-state concepts of equilibrium for the regional labour market. In particular, we examine the impact of a stimulus to local demand, in the form of an injection of externally financed government expenditure. We focus on short- and 1ong-run comparative static equilibria and the adjustment paths which link them. Some issues are dealt with analytically, while others require simulation.