This paper constructs a two-country overlapping generations model with two distinct fiat monies in which seigniorage revenues are used to finance a local public good. Countries differ both in endowments and in the preference for the public good. Under perfect mobility of financial assets,...

This paper focuses on a possible effect of emigration on human capital formation. Emigration to a high return to skills country provides an incentive to investment in human capital. The level of human capital formation in the sending country can therefore be positively correlated with the...