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International migration with capital constraints: interpreting migration from the Netherlands to Canada in the 1920s

Author

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  • Alex Armstrong
  • Frank D. Lewis

Abstract

An inability to borrow affected migration from Europe to North America. This capital constraint is formalized with a life-cycle model, where agents jointly choose how much to save, the optimal period to finance migration, and whether to migrate. Using a life-cycle model we show that preference for the home country, the period of adjustment after arrival, and the direct cost of migration affect the savings of migrants, age at migration, and who migrates. These results are discussed in light of wages in Canada and the Netherlands, and the characteristics of Dutch immigrants drawn from ship passenger manifests. Capital constraints delayed migration and help explain the large wage gap between the Netherlands and Canada. JEL classification: J61, N32, N34

Suggested Citation

  • Alex Armstrong & Frank D. Lewis, 2012. "International migration with capital constraints: interpreting migration from the Netherlands to Canada in the 1920s," Canadian Journal of Economics, Canadian Economics Association, vol. 45(2), pages 732-754, May.
  • Handle: RePEc:cje:issued:v:45:y:2012:i:2:p:732-754
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    Citations

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    Cited by:

    1. repec:oup:ereveh:v:20:y:2016:i:3:p:299-321. is not listed on IDEAS
    2. Michael A. Clemens & Claudio Montenegro & Lant Pritchett, 2016. "Bounding the Price Equivalent of Migration Barriers," CID Working Papers 316, Center for International Development at Harvard University.
    3. repec:spr:cliomt:v:11:y:2017:i:2:d:10.1007_s11698-016-0141-x is not listed on IDEAS
    4. Zachary Ward, 2015. "The U-Shaped Self-Selection of Return Migrants," CEH Discussion Papers 035, Centre for Economic History, Research School of Economics, Australian National University.
    5. Kris Inwood & Chris Minns & Fraser Summerfield, 2016. "Reverse assimilation? Immigrants in the Canadian labour market during the Great Depression," European Review of Economic History, Oxford University Press, vol. 20(3), pages 299-321.
    6. repec:afc:cliome:v:11:y:2017:i:2:p:153-182 is not listed on IDEAS

    More about this item

    JEL classification:

    • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers
    • N32 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - U.S.; Canada: 1913-
    • N34 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Europe: 1913-

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