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Mr. Jesus R Gonzalez-Garcia, Mr. Ermal Hitaj, Mr. Montfort Mlachila, Arina Viseth, and Mustafa Yenice

highest population growth in the world, from about 480 million in 1990 to about 900 million in 2015. Similarly, in absolute terms, the stock of migrants has doubled since 1990. By 2013, the most recent year for which bilateral migration data are available, about 20 million sub-Saharan Africans were living outside their own country, of whom about 13 million have migrated within SSA ( Figure 1 ). Two overall trends can be identified in recent decades. First, migration of refugees has decreased considerably since 1990, when about half of emigrants—both within SSA and

Mai Dao, Davide Furceri, and Mr. Prakash Loungani
We examine patterns of regional adjustments to shocks in the US during the past 40 years. Using state-level data, we estimate the dynamic response of regional employment, unemployment, participation rates and net migration to state-relative labor demand shocks. We find that (i) the long-run effect of a state-specific shock on the state employment level has decreased over time, suggesting less overall net migration in response to a regional shock, (ii) the role of the participation rate as absorber of regional shocks has increased, (iii) the response of net migration to regional shocks is stronger, while that of relative unemployment is weaker during aggregate downturns, and (iv) the change in the response intensity of migration is related to the declining trend in regional dispersion of labor market conditions. Finally, using regional data for a set of 21 European countries, we show that while the short-term response of participation rates to labor demand shocks is typically larger in Europe than in the US, the immediate response of net migration in Europe has increased over time.