Understanding migration aversion using elicited counterfactual choice probabilities / Gizem Koşar (Federal Reserve Bank of New York), Tyler Ransom (University of Oklahoma and IZA), Wilbert van der Klaauw (Federal Reserve Bank of New York and IZA) ; IZA Institute of Labor Economics
VerfasserKoşar, Gizem ; Ransom, Tyler ; Klaauw, Wilbert van der
KörperschaftForschungsinstitut zur Zukunft der Arbeit
ErschienenBonn, Germany : IZA Institute of Labor Economics, April 2019
Elektronische Ressource
Umfang1 Online-Ressource (85 Seiten) : Diagramme
SerieDiscussion paper ; no. 12271
 Das Dokument ist öffentlich zugänglich im Rahmen des deutschen Urheberrechts.
Understanding migration aversion using elicited counterfactual choice probabilities [0.58 mb]
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Zusammenfassung (Englisch)

Residential mobility rates in the U.S. have fallen considerably over the past three decades. The cause of the long-term decline remains largely unexplained. In this paper we investigate the relative importance of alternative drivers of residential mobility, including job opportunities, neighborhood and housing amenities, social networks and housing and moving costs, using data from two waves of the NY Fed's Survey of Consumer Expectations. Our hypothetical choice methodology elicits choice probabilities from which we recover the distribution of preferences for location and mobility attributes without concerns about omitted variables and selection biases that hamper analyses based on observed mobility choices alone. We estimate substantial heterogeneity in the willingnessto-pay (WTP) for location and housing amenities across different demographic groups, with income considerations, proximity to friends and family, neighbors shared norms and social values, and monetary and psychological costs of moving being key drivers of migration and residential location choices. The estimates point to potentially important amplifying roles played by family, friends, and shared norms and values in the decline of residential mobility rates.