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A Dynamic General Equilibrium Analysis of Migration and Capital Formation: The Case of Canada

  • Stuart J. Wilson

    (University of Regina)

A dynamic general equilibrium model is constructed to examine the impact of mass immigration on capital accumulation in life-cycle economies. The model is calibrated to match Canadian demographic characteristics over 1861-1913. This was a period when Canada experienced a dramatic shift in migration patterns, with increasing immigration flows, and a surge in domestic savings and capital inflows. Model results suggest that up to three-quarters of the increase in the capital formation rate and the foreign capital inflow rate, and all of the increase in the domestic savings rate, in the Canadian economy over 1899-1911, can be attributed to the dramatic inflow of migrants over this period. (Copyright: Elsevier)

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File URL: http://dx.doi.org/10.1016/S1094-2025(03)00006-1
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Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics.

Volume (Year): 6 (2003)
Issue (Month): 2 (April)
Pages: 455-481

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Handle: RePEc:red:issued:v:6:y:2003:i:2:p:455-481
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  1. Huggett, Mark, 1996. "Wealth distribution in life-cycle economies," Journal of Monetary Economics, Elsevier, vol. 38(3), pages 469-494, December.
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  8. Green, Alan G. & Sparks, Gordon R., 1999. "Population Growth and the Dynamics of Canadian Development: A Multivariate Time Series Approach," Explorations in Economic History, Elsevier, vol. 36(1), pages 56-71, January.
  9. Hurd, Michael D, 1989. "Mortality Risk and Bequests," Econometrica, Econometric Society, vol. 57(4), pages 779-813, July.
  10. Alan J. Auerbach & Laurence J. Kotlikoff & Robert P. Hagemann & Giuseppe Nicoletti, 1989. "The Economic Dynamics of an Ageing Population: The Case of Four OECD Countries," OECD Economics Department Working Papers 62, OECD Publishing.
  11. Costa, Dora L., 1998. "The Evolution of Retirement," National Bureau of Economic Research Books, University of Chicago Press, edition 1, number 9780226116082.
  12. Ríos-Rull José-Víctor, 2001. "Population Changes and Capital Accumulation: The Aging of the Baby Boom," The B.E. Journal of Macroeconomics, De Gruyter, vol. 1(1), pages 1-48, May.
  13. George J. Borjas, 1994. "The Economics of Immigration," Journal of Economic Literature, American Economic Association, vol. 32(4), pages 1667-1717, December.
  14. Taylor, A.M., 1991. "Capital Flows to the New World as an Intergenerational Transfer," Harvard Institute of Economic Research Working Papers 1579, Harvard - Institute of Economic Research.
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