Using a newly constructed data panel on U.S. locality attributes, this paper sketches four sets of empirical facts on economic growth across U.S. counties. A first set of facts focuses on the time series and cross-correlation properties of local economic growth as measured by net migration, per...

What is the effect of factor mobility on income convergence? Why are population flows so persistent? Extending the neoclassical growth model to allow for mobile labor, in a long run steady state, individuals and firms receive equal levels of utility and profits across localities. But frictions...