Immigrants or their children founded over 40% of the Fortune 500 US companies. This suggests that ‘ability drain' is economically significant. While brain drain associated with migration also induces a brain gain, this cannot occur with ability drain. This paper examines migration's impact on...

Due to paucity of data, assessing whether ability drain is economically significant is difficult, though the fact that immigrants or their children founded over 40% of the Fortune 500 US companies strongly suggests that it is. Moreover, brain-drain-induced brain gain cannot occur with ability....