Does a high regional concentration of immigrants of the same ethnicity affect immigrant children's acquisition of host-country language skills and educational attainment? We exploit the exogenous placement of guest workers from five ethnicities across German regions during the 1960s and 1970s in...

"Freedom of movement is considered a basic human right by the majority of countries of the world. As defined in practice, it encompasses the right to move internally within a country, the right to move abroad, and the right to return from abroad. It does not include the right of an individual...

"In this paper, we examine net emigration from Mexico over the period 1960 to 2000. The data are consistent with labor-supply shocks having made a substantial contribution to Mexican emigration, accounting for one third of Mexican labor flows to the U.S. over the last 25 years of the 20th...

We provide evidence that the robust association between cognitive skills and economic growth reflects a causal effect of cognitive skills and supports the economic benefits of effective school policy. We develop a new common metric that allows tracking student achievement across countries, over...

This paper investigates the empirical relevance of different unemployment theories in three major economies, namely the UK, the US and Japan, by estimating the degree of dependence in the unemployment series. Both univariate and multivariate long memory methods are used. The results vary...

We analyze a general search model with on-the-job search and sorting of heterogeneous workers into heterogeneous jobs. This model yields a simple relationship between (i) the unemployment rate, (ii) the value of non-market time, and (iii) the max-mean wage differential. The latter measure of...

We argue in favor of the shareholder model of the firm for three main reasons. First, serving multiple stakeholders leads to ill-defined property rights. What sounds like a fair compromise between stakeholders can easily evolve in a permanent struggle about the ultimate goal of the company....