Learning about the impact of immigration on the labor market outcomes of natives is a topic of major concern for immigrant-receiving countries. There exists an extensive literature evaluating the impact of immigration on the employment and wages of natives in the U.S. Yet, despite the...

Using a recent Spanish database, we show that remittances respond to cross country differences in portfolio values. This behavior suggests that immigrants are sophisticated economic optimizers who take advantage of opportunities to invest trans-nationally given the networks that immigrants are...