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This paper and its companion study, Fehr, Jokisch, and Kotlikoff (2004), develop a three-region dynamic general equilibrium life-cycle model to analyze general and skill-specific immigration policy during the demographic transition. The three regions are the U.S., Japan, and the EU. Immigration...
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. Specifically, can the developed economies hope to be bailed out by either macroeconomic feedback effects of by increased migration …
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