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Skill-Upgrading and the Saving of Immigrants

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  • Adolfo Cristobal-Campoamor

    ()
    (International School of Economics at Tbilisi State University )

Abstract

This note derives positive implications about the effect of immigration on labor income and the skill composition of the labor force in receiving economies. The novel mechanism through which immigration affects labor-market outcomes is the availability of new loanable funds for human-capital investment, which results in endogenous skill upgrading. Given their higher training costs in the host economy, immigrants usually do not acquire advanced academic skills, and they accordingly skip the financial costs of education at the college level. As a result, they self-select as net lenders, which reduces the equilibrium interest rates and facilitates the upgrading mostly of new generations of natives. Consequently, the aggregate labor income of natives increases with immigration.

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File URL: http://www.iset.ge/files/009-08.pdf
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Bibliographic Info

Paper provided by International School of Economics at TSU, Tbilisi, Republic of Georgia in its series Working Papers with number 009-08.

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Length: 15 pages
Date of creation: Sep 2008
Date of revision:
Handle: RePEc:tbs:wpaper:08-009

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  1. Galor, Oded & Stark, Oded, 1990. "Migrants' Savings, the Probability of Return Migration and Migrants' Performance," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 31(2), pages 463-67, May.
  2. Galor, Oded & Zeira, Joseph, 1988. "Income Distribution and Macroeconomics," MPRA Paper 51644, University Library of Munich, Germany, revised 01 Sep 1989.
  3. Giovanni Peri & Gianmarco I.P. Ottaviano, 2005. "Rethinking the Gains from Immigration: Theory and Evidence from the U.S," Working Papers 58, University of California, Davis, Department of Economics.
  4. Rigolini, Jamele, 2004. "Education technologies, wages and technological progress," Journal of Development Economics, Elsevier, vol. 75(1), pages 55-77, October.
  5. George J. Borjas, 2003. "The Labor Demand Curve is Downward Sloping: Reexamining the Impact of Immigration on the Labor Market," NBER Working Papers 9755, National Bureau of Economic Research, Inc.
  6. Djajic, Slobodan, 1989. "Migrants in a guest-worker system : A utility maximizing approach," Journal of Development Economics, Elsevier, vol. 31(2), pages 327-339, October.
  7. Malcolm J. Macmillen, 1982. "The Economic Effects of International Migration: A Survey," Journal of Common Market Studies, Wiley Blackwell, vol. 20(3), pages 245-267, 03.
  8. George J. Borjas, 1995. "The Economic Benefits from Immigration," Journal of Economic Perspectives, American Economic Association, vol. 9(2), pages 3-22, Spring.
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