capital), and the volume of migration (of both skill types), to be higher in the competitive regime than in the coordinated … positive if the (state variable) the capital stock is within a certain range, or zero, otherwise. Migration share of native … level, otherwise. In the case of private saving only regime, the migration share is intermediate level. Thus, migration …

factor mobility (such as capital). However, in this paper we emphasize the unique feature of labor migration, that may … nullify the’race to the bottom’ hypothesis. Labor migration is governed not only by net-of-tax factor rewards, but rather … importantly also by the benefits that the welfare state provides. The paper analyzes fiscal competition with and without migration …

an incentive to liberalize migration policy. The paper examines a political- economy, inter-generational, mechanism … demonstrate that the Markov equilibrium, with social security, consists of more liberal migration policies, than the corresponding …

Migration of young workers (as distinct from retirees), even when driven in by the generosity of the welfare state …, slows down the trend of increasing dependency ratio. But, even though low-skill migration improves the dependency ratio, it … estimate the fiscal burden that low-skill migration imposes on the fiscal system. However, an important message of this paper …