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Crossing the Rio Grande: Migrations, Business Cycles and the Welfare State

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Author Info
Canova, Fabio
Ravn, Morten O.

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Abstract

This paper studies the macroeconomic effects of an inflow of low-skilled workers into an economy where there is capital accumulation, endogenous labour supply and heterogeneous workers. We find substantial dynamic effects, with adjustments that resemble those triggered by a sudden disruption of the capital stock and significant long-run changes. We examine the interactions between migration and three different redistribution systems and find that these schemes change the dynamics and lead to prolonged periods of adjustments. The aggregate welfare implications of migration are sensitive to the redistribution system. Without redistribution there are gains and when the state engages in redistribution gains disappear and different types of agents bear the costs.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 2040.

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Date of creation: Dec 1998
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Handle: RePEc:cpr:ceprdp:2040

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Related research
Keywords: Business Cycles; heterogeneous agents; Migration; Welfare State;

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Find related papers by JEL classification:
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
F20 - International Economics - - International Factor Movements and International Business - - - General
H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies

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  1. Juan A. Rojas, 2002. "Immigration And The Pension System In Spain," Economics Working Papers we023916, Universidad Carlos III, Departamento de Economía. [Downloadable!]
  2. Juan A. Rojas, 2004. "On the Interaction between Education and Social Security," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 7(4), pages 932-957, October. [Downloadable!] (restricted)
    Other versions:
  3. Fabio Canova & Morten Ravn, 2000. "The Macroeconomic Effects of German Unification: Real Adjustments and the Welfare State," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 3(3), pages 423-460, July. [Downloadable!] (restricted)
    Other versions:
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