Bandyopadhyay, Subhayu; Wall, Howard J. - Federal Reserve Bank of St. Louis - 2007
countries, both of which can control their levels of such immigration. Because of complementarities between capital and labor …, the return on capital is positively related to the level of immigration. Consequently, when capital is immobile, host … nations’ optimal levels of immigration are positively related to their capital endowments. Further, when capital is mobile …