This paper provides the first evidence on the regional impact of immigration on native employment in a cross-country framework. It shows that the rise in the share of immigrants across European regions over the 2010-2019 period had a modest impact on the employment-to-population rate of natives. However, the effects are highly uneven across regions and workers, and over time. First, the short-run estimates show adverse employment effects in response to immigration, while these effects disappear in the longer run. Second, low-educated native workers experience employment losses due to immigration, whereas high-educated ones are more likely to experience employment gains. Third, the presence of institutions that provide employment protection and high coverage of collective wage agreements exert a protective effect on native employment. Finally, economically dynamic regions can better absorb immigrant workers, resulting in little or no effect on the native workforce.  Anthony Edo, Cem Özgüzel

The new Working Paper analyses the content of the OPEC communications and its impact on the oil market volatility and traders’ positions.  The authors find that the OPEC communication is credible, reduces oil price volatility and prompts market participants to rebalance their positions.  Celso Brunetti, Marc Joëts, Valérie Mignon

International Economics is a peer-reviewed journal devoted to the publication of research in the area of applied international economics. The journal especially welcomes empirical contributions that include, but are not limited to, topics in international trade, commercial policy, open economy macroeconomics, international finance, exchange rates, financial and monetary policies, economic development, migration and factor movements. The December 2023 issue is in progress but contains articles that are final and fully citable.