Quantifying the Benefits of Labor Mobility in a Currency Union

We thank seminar participants at the University of Texas, the University of Lausanne, the University of Michigan, UCLA, the UCSB, the Ohio State University, the Federal Reserve Bank of Dallas, the Department of the Treasury Australia in Canberra, the CEF conference in Milan 2018, the SED conference in Mexico City 2018, the NBER Summer Institute 2018, the EEA conference in Cologne 2018, the ABFER conference 2018 in Singapore, the ASSA conference 2018 We thank Daniela Hauser, John Leahy, Matthew Shapiro, Andrei Levchenko, Loukas Karabarbounis, Helen Popper, Martin Berka and Bent Sorensen for their comments. We gratefully acknowledge financial support from the Michigan Institute for Teaching and Research in Economics (MITRE). The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

• Appendix and technical appendix