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The heterogeneous Impact of US Monetary Policy: Evidence from Native and Foreign-Born Workers

Author

Listed:
  • Juan Francisco Albert

    (UV - Universitat de València)

  • Hamza Bennani

    (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - Nantes Univ - IAE Nantes - Nantes Université - Institut d'Administration des Entreprises - Nantes - Nantes Université - pôle Sociétés - Nantes Univ - Nantes Université)

Abstract

This paper explores the heterogeneous effects of expansionary monetary policy on native-born and foreign-born workers in the United States from January 2007 to January 2024. Using high frequency data and local projections, we find that foreign-born workers benefit more significantly from expansionary shocks, with greater improvements in employment-population ratios, unemployment rates and labor force compared to native-born workers. Our results emphasize the importance of considering foreign-born workers in the decision making process of the Federal Reserve.

Suggested Citation

  • Juan Francisco Albert & Hamza Bennani, 2024. "The heterogeneous Impact of US Monetary Policy: Evidence from Native and Foreign-Born Workers," Working Papers hal-04608416, HAL.
    • Handle: RePEc:hal:wpaper:hal-04608416
    Note: View the original document on HAL open archive server: https://nantes-universite.hal.science/hal-04608416
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