This paper analyzes international high-skilled migration caused by financial frictions in educational market. I develop a model of learning in which acquisition of skill is only possible through personal interaction with a skilled individual; the income of the skilled is sensitive to financial...

The naturalization of asylum seekers is modeled as an economic problem. In choosing their level of investment in host-country-specific human capital, asylum seekers take into consideration the probability of their being naturalized. The government of the host country chooses the probability of...