This paper documents a stylized fact not well appreciated in the literature. The Third World has been undergoing an emigration life cycle since the 1960s, and, except for Africa, emigration rates have been level or even declining since a peak in the late 1980s and the early 1990s. The current...

Can history shed light on the modern debate about immigration's labor market impact in high wage economies? This paper examines the relationship between migration and capital flows in the age of mass migration before 1914, the so-called first global century. It then assesses the effects of...

The United States has experienced rising immigration levels and changing source since the 1950s. The changes in source have been attributed to the 1965 Amendments to the Immigration Act that abolished country-quotas and replaced them with a system that emphasized family reunification. Some...