Summary This paper asks whether history can inform modern debate about immigration's impact on high wage economies. It examines the relationship between migration's labor market impact and capital flows before 1914, the first global era. It then assesses the effects of immigration on wages and...

Summary Most observers appear to believe that Third World emigration pressure is on the rise. But history suggests that migration typically follows a bell shape, in which case it might be entering on the downward phase. This paper estimates the economic and demographic fundamentals driving...