Cities experience significant, near random walk productivity shocks, yet population is slow to adjust. In practice local population changes are dominated by variation in net migration, and we argue that understanding gross migration is essential to quantify how net migration may slow population...

During the 2000-2011 housing boom and bust, changes to self-assessed house prices in 20 different metro areas are highly correlated with changes to the Case-Shiller-Weiss (CSW) house price indexes, but do not change percent-for-percent with the CSW indexes during the boom or bust. We argue this...