This paper examines the welfare implications associated with different degrees of diversity or similarity between … populations, everyone ends up in the country with the highest initial level of human capital. Welfare under any of the equilibrium …. In addition, trade and migration are not equivalent if social capital is present: the highest welfare is obtained with …

workers have the same probability of being hired. We argue that selective hiring crucially affects welfare analysis. Our model … predictions of the model change very little, but the welfare costs of unemployment are much larger because unemployment risk is … distributed unequally across workers. As a result, optimal unemployment insurance may be higher and welfare is lower if hiring is …

unemployment, reduce output, and raise productivity. The welfare effects are ambiguous. …

We investigate the welfare implications of two pre-crisis immigration waves (1991– 2000 and 2001–2010) and of the post … across countries and across skill groups. In relative terms, the post-crisis wave induces smaller welfare gains compared to …

inefficiency. We analyze the effects of regulatory intervention via educating naive consumers on equilibrium prices and welfare … increase welfare; however, it may also decrease welfare if education is insufficient to alter the equilibrium information and …

This paper evaluates the welfare impact of observed levels of migration and remittances in both origins and … and thus higher welfare, all else equal. Because of this effect, natives in countries that received a lot of migration … results show that the welfare impact of observed levels of migration is substantial, at about 5 to 10% for the main receiving …

We show that the welfare of a country's infinitely-lived representative consumer is summarized, to a first order, by … total factor productivity and by the capital stock per capita. These variables suffice to calculate welfare changes within a … country, as well as welfare differences across countries. The result holds regardless of the type of production technology and …

Canada-U.S. interregional trade data, we first estimate a system of theory-based gravity equations under the general … varieties produced and consumed, and welfare. We finally provide a similar quantification with respect to regional population …