Mandelman, Federico S.; Yu, Yang; Zanetti, Francesco - 2026
Immigration has become a central driver of U.S. labor force growth. We document new empirical findings that shed light … on the relationships between immigration, labor shortages, wage growth, and job openings during the high …-immigration period of 2021-2024. The textbook search-and-matching model implies highly counterfactual labor market dynamics: it predicts …