This paper documents a stylized fact not well appreciated in the literature. The Third World has been undergoing an emigration life cycle since the 1960s, and, except for Africa, emigration rates have been level or even declining since a peak in the late 1980s the early 1990s. The current...

In the first global century before 1914, trade and especially migration had profound effects on both low-wage, labour abundant Europe and the high-wage, labour scarce New World. Those global forces contributed to a reduction in unskilled labour scarcity in the New World and to a rise in...