This article surveys the theoretical and empirical literature on investment in human capital and the effect of public policies. Empirical literature shows that education carries considerable amount of risk and only 9 per cent of the variability of the returns to college education are...

This article investigates the effect of ‘migration taxes’ on the migration pattern for skill types under asymmetric information in cross-border labour markets. In the presence of migration taxes, the top skill group migrating under complete asymmetric information may not be lower...

The phased elimination of the Multi-Fibre Arrangement has been one of the most compelling trade policy reforms of the early twenty-first century, and has brought in significant changes in the industrial structures of the countries of the global south. The textile and clothing industry is the...

Emigration leads to finite changes in structure of production and sectors vanish because they cannot pay higher wages. Does emigration of one type of labor hurt the other non-emigrating type in this set up? We demonstrate various scenarios when real incomes of the emigrating and the...

The current literature does not adequately analyze how economic crisis affects employment of immigrants in host countries. It is generally believed that immigrants lose jobs and return home during recession. We show that recession may instead help relatively unskilled immigrants when it leads to...

This graduate textbook offers advanced and contemporary readings in international trade and economic development and provides an overview of the fundamental topics in this area. It brings together many of the issues that are considered staple reading for a course in trade and development and it...

We conduct two policy experiments in a general equilibrium framework with an informal sector. The first deals with a liberal trade policy and the second with a decline in the unionized wage rate. In both cases, informal workers gain if capital moves between the formal and the informal segments...

Individual decision-making is naturally subjected to various micro and macroeconomic policies of the government. Choice of schooling by an individual is also affected by such public policies. We show that the distribution of individuals in a scale of risk aversion, ex post, is strongly...