@TechReport{iza:izadps:dp8924,
            	author={Monras, Joan},
            	title={Immigration and Wage Dynamics: Evidence from the Mexican Peso Crisis},
            	year={2015},
	month={Mar},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={8924},
            	url={https://www.iza.org/index.php/publications/dp8924},
	abstract={How does the US labor market absorb low-skilled immigration? I address this question using the 1995 Mexican Peso Crisis, an exogenous push factor that raised Mexican migration to the US. In the short run, high-immigration states see their low-skilled labor force increase and native low-skilled wages decrease, with an implied local labor demand elasticity of -.7. Internal relocation dissipates this shock spatially. In the long run, the only lasting consequences are for low-skilled natives who entered the labor force in high-immigration years. A simple quantitative many-region model allows me to obtain the counterfactual local wage evolution absent the immigration shock.},
	keywords={local shocks;international and internal migration;local labor demand elasticity},
            }