The 1920s marked the end of a century of mass migration from Europe to the New World. This paper examines analytically this pre-quota experience. The discussion is divided into two parts. The first ...

We estimate that 37% of the total incidence of a shock falls on residents, compared to 1% in a model where migration is costless. Our results have important implications for understanding the impact ...

Standard neoclassical trade theory models trade, migration and FDI as substitutes in the sense that factor movements reduce the scope for trade and vice versa. This neglects the potential for ...