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

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  • Canova, Fabio
  • Ravn, Morten O.

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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Bibliographic Info

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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Cited by:
  1. Canova, Fabio & Ravn, Morten O., 1998. "The Macroeconomic Effects of German Unification: Real Adjustments and the Welfare State," CEPR Discussion Papers 2038, C.E.P.R. Discussion Papers.
  2. Casarico, Alessandra & Devillanova, Carlo, 2003. "Social security and migration with endogenous skill upgrading," Journal of Public Economics, Elsevier, vol. 87(3-4), pages 773-797, March.
  3. 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.
  4. Juan A. Rojas, 2002. "Immigration And The Pension System In Spain," Economics Working Papers we023916, Universidad Carlos III, Departamento de Economía.
  5. Storesletten, Kjetil, 2001. "Fiscal Implications of Immigration - A Net Present Value Calculation -," Seminar Papers 701, Stockholm University, Institute for International Economic Studies.

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