Until recently, there has been no systematic empirical assessment of the economic impact of the brain drain. Despite many case studies and anecdotal evidence, the main reason for this seems to be the lack of harmonized international data on migration by country of origin and education level. An...

In this paper, we examine the performance of the Troll Stacked- time algorithm in the simulation of large scale overlapping generations (OLG) models. At each period of time, the number of equations is proportional to the individual length of lifetime. The model size and the data requirements may...

We develop a three-period overlapping-generations model in which individual decisions about education are the engine of growth. In this setting, we investigate the normative role of education subsidies and old age pensions. Calibrating this model on empirical data, it is shown that the case for...

Immigrants in Rome or Paris are more visible to the public eye than the Italian or French engineers in Silicon Valley, especially when it comes to the debate on the effects of immigration on the employment and wages of natives in high-income countries. This paper argues that such public fears,...

In this paper, we simulate the long-run effects of migrant flows on wages of high-skilled and low-skilled non-migrants in a set of countries using an aggregate representation of national economies. We focus on Europe and compare the outcomes for large Western European countries with those of...

In this paper we investigate the consequences of the rise in educational attainment on US generational accounts. We build on the 1995 existing accounts and disaggregate them per schooling level. Contrary to medium- and high-skill newborns, we show that low-skill newborns are characterized by...