This paper constructs a two-country overlapping generations model with two distinct fiat monies in which seigniorage revenues are used to finance a local public good. Countries differ both in endowments and in the preference for the public good. Under perfect mobility of financial assets,...

This paper focuses on a possible effect of emigration on human capital formation. Emigration to a high return to skills country provides an incentive to investment in human capital. The level of human capital formation in the sending country can therefore be positively correlated with the...

This paper studies the pattern of capital mobility with a two-country dynastic model in which each country is exogenously characterised by its degree of altruism towards children. The steady-state welfare implications of restricted as well as unrestricted capital mobility are established. It is...