This paper identifies the migration policies that emerge when both the sending country and the receiving country wield power to set migration quotas, when controlling migration is costly, and when the decision how much human capital to acquire depends, among other things, on the migration...

We ask which migration policy a developed country will choose when its objective is to attain the optimal skill composition of the country's workforce, and when the policy menu consists of an entry fee and a quota. We compare these two policies under the assumptions that individuals are...

We ask which migration policy a developed country will choose when its objective is to attain the optimal skill composition of the country's workforce, and when the policy menu consists of an entry fee and a quota. We compare these two policies under the assumptions that individuals are...

This paper analyses the general equilibrium implications of reforming pay-as-you-go pension systems in an economy with heterogeneous agents, human capital investment and capital-skill complementarity. It shows that increasing funding delivers in the long run higher physical and human capital and...