Sample Moving Costs and Amenity Values in Net Present Value and Percentage of Flow Earnings
| Monetary Value | ||||
|---|---|---|---|---|
| Type 1 | Type 2 | |||
| Utility Component | Employed | Unemployed | Employed | Unemployed |
| Panel A: Net Present Value (US$) | ||||
| Moving costs | ||||
| Fixed cost of moving | -105,095 | -127,749 | -116,777 | -140,023 |
| Average mover, 500-mile move | -394,446 | -436,458 | -416,095 | -459,270 |
| Average mover, New York to Los Angeles | -570,671 | -622,158 | -597,202 | -650,115 |
| Young mover, New York to Los Angeles | -312,595 | -342,163 | -327,841 | -358,186 |
| Amenities | ||||
| SD of local amenities | 23,356 | |||
| Range of local amenities | 91,603 | |||
| Birth state bonus | 57,328 | |||
| Panel B: Percentage of Flow Earnings | ||||
| Moving costs | ||||
| Fixed cost of moving | -30.6 | -37.3 | -34.1 | -40.8 |
| Average mover, 500-mile move | -101.9 | -112.8 | -107.5 | -118.7 |
| Average mover, New York to Los Angeles | -147.5 | -160.8 | -154.4 | -168.0 |
| Young mover, New York to Los Angeles | -116.9 | -128.0 | -122.6 | -134.0 |
| Amenities | ||||
| SD of local amenities | 7.7 | |||
| Range of local amenities | 30.2 | |||
| Birth state bonus | 18.9 | |||
Notes: Panel A expresses the monetary values in terms of net present value, while Panel B expresses monetary values in terms of the percentage of flow earnings. All results are derived from the parameter estimates in Table 6. The average mover is age 39, and a young mover is age 25. The great-circle distance from New York to Los Angeles is 2,446 miles. For complete details on how these values are calculated, see Online Appendix Section A.4.