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  • Takehiro Kiguchi (a1) and Andrew Mountford (a2)

This paper analyzes the effects of an unanticipated increase in immigration in a macroeconomic model with search and matching frictions. It shows how an immigration shock can lead to a temporary increase in unemployment under a variety of conditions and that this is qualitatively consistent with the responses from a VAR estimated on postwar US data.

Corresponding author
Address correspondence to: Andrew Mountford, Department of Economics, Royal Holloway, University of London, Egham, Surrey TW20 OEX, UK; e-mail:
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We thank the participants of the seminar at the Department of Economics Management and Statistics Università degli Studi di Milano-Bicocca, Italy and Royal Holloway University for their useful comments. T. Kiguchi gratefully acknowledges the financial support by Waseda University Grant for Special Research Projects (2015S-188). All errors are our own.

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Macroeconomic Dynamics
  • ISSN: 1365-1005
  • EISSN: 1469-8056
  • URL: /core/journals/macroeconomic-dynamics
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