| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7199 |
| DP7199 Are Stocks Really Less Volatile in the Long Run? | |
| Robert F. Stambaugh; Luboš Pástor | |
| 发表日期 | 2009-03-01 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | Skilled migrants typically contribute to the welfare state more than they draw in benefits from it. The opposite holds for unskilled migrants. This suggests that a host country is likely to boost (respectively, curtail) its welfare system when absorbing high-skill (respectively, low-skill) migration. In this paper we first examine this hypothesis in a politico-economic setup. We then confront the prediction of the theory with evidence. In doing so, we reckon with an endogeneity problem that arise because the skill composition of migration is itself affected by the generosity of the welfare state. |
| 主题 | International Macroeconomics |
| 关键词 | Skilled vs low skilled migrants Welfare migration |
| URL | https://cepr.org/publications/dp7199 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536036 |
| 推荐引用方式 GB/T 7714 | Robert F. Stambaugh,Luboš Pástor. DP7199 Are Stocks Really Less Volatile in the Long Run?. 2009. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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