Chapter 1. Introduction -- Section 1. Migration and the Macroeconomy: Some Empirical Evidence -- Chapter 2. The Impact of Immigration on Productivity -- Chapter 3. Macroeconomic Consequences of International Migration for OECD Countries -- Chapter 4. The Economics of Brain Waste -- Section 2....

Motivated by fiscal austerity and the surge in emigration in Europe's periphery during the Great Recession Bandeira, Caballé and Vella study a particular type of fiscal consolidation: the one carried out through an increase in consumption tax rates. Using a small open economy model with search...

While extensive academic work has looked at the microeconomic aspects of migration, an open question is to better understand the links between migration and macroeconomic aggregates, such as per capita GDP. This book explores this overarching question, which has hit the key political and social...

We analyze how the introduction of habits and aspirations affects the distribution of wealth when the labor productivity of individuals is subject to idiosyncratic shocks and when bequests arise from a joy-of-giving motive. In the presence of either bequests or aspirations, labor income shocks...

This article uses comparable international data to examine the extent and wage effects of skill mismatches among European university graduates. The results show that the mismatched earn on average 11.7% less than their well-matched counterparts. This effect, however, cannot be regarded as...