| Cohort Effects | A difference in skills across cohorts (i.e., persons who migrate at a particular interval of time).
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| Efficient Turnover | The mechanism that labor markets use to correct errors in job match, and leads to a better and more efficient allocation of resources. It increases the total value of labor's product in a competitive economy.
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| Human Capital Externality | An externality occurs when a decision that a particular worker makes—such as how much schooling to attain, which occupations to enter—spills over and affects the economic opportunities of other workers.
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| Job Match | A particular pairing of a firm and a worker.
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| Labor Mobility | The process of workers searching for better jobs (i.e., jobs where they are more productive and earn higher wages) and firms searching for better workers that results in workers moving between firms. Thus, labor mobility is a mechanism that markets use to improve the allocation of workers to firms.
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| Positive and Negative Selection | The migration flow which is composed of workers in the upper tail of the skill distribution in source country is called positive selection whereas the immigrant flow which is composed of the least skilled workers in the source country is called negative selection.
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| Return Migration | The decision to return to the original location (country) of origin.
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| Repeat Migration | The decision to continue moving to another location (i.e., to migrate more than once).
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| Roy Model | The model which describes how workers sort themselves among employment opportunities. A key insight of the Roy model with regard to labor mobility is that the relative payoff to skills across countries determines the skill composition of the immigrant flow.
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| Social Capital | The set of variables that characterizes the "quality" of the environment where a person grows up or lives.
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| Tied Mover | Persons who move even though their employment outlook is better at the current residence because the total family gain exceeds their loss.
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| Tied Stayer | Persons who sacrifice better employment opportunities available elsewhere because job opportunities of their other family members are better off in their current residence.
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