Publication:
Modelling an Immigration Shock

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WPUMUFAE.2013.01.pdf(658.61 KB)
Date
2013-11-04
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Authors
Boldrin, Michelle ; Montes, Ana
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Publisher
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Fundamentos del AnĆ”lisis EconĆ³mico
DOI
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info:eu-repo/semantics/workingPaper
Description
Abstract
In this paper we model an overlapping generation economy affected by an unexpected immigration shock and figure out how household would insure against "immigration risk" efficiently. We use the model to study the impact of immigration in (i) the welfare of different generations (ii) the distributions of income among factors of production (iii) the optimal design of the interegenartional welfare state. In particular we construct a system of public education and public pensions that mimics the efficient complete market allocation. We also show the impact of immigration shock in a small open economy.In this case the external capital flows can act as sbustitutes for the miising private insurance markets.Our analysis delivers a set of predictions that we find useful to understand some aspects of the Spanish experience between 1996 and 20007.
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Seguridad social , Capital humano , Modelos de generaciones solapadas , Risk sharing , InmigraciĆ³n
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http://hdl.handle.net/10201/36663
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