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  • 1
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    Brussels: Economics and Econometrics Research Institute (EERI)
    Publication Date: 2018-01-19
    Description: This paper examines the potential impacts of East-West migration of talents on the innovative capital and hence the long-run growth prospects in Eastern sending countries. Complementing previous studies, we examine the impact of high skill migration not only on the formation of human capital, but also consider migration's impact on knowledge capital in the sending countries. In line with previous studies we find that in the short- to medium-term high skill migration strictly reduces national innovative capital and hence increases the gap between East and West. However, these effects might be mitigated by factors such as reinforced education of workers, productive investment of remittances, return migration and increased knowledge transfer. Given that the emigration of highly skilled affects human capital differently than knowledge capital, addressing the adverse impacts of the most talented and highly skilled worker emigration efficiently, differentiated policies are required for human capital and knowledge capital.
    Keywords: D50 ; D80 ; F22 ; F24 ; H52 ; I21 ; J24 ; J61 ; O15 ; ddc:330 ; International labour migration ; skilled workers ; growth ; human capital
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 2
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    Brussels: Economics and Econometrics Research Institute (EERI)
    Publication Date: 2018-01-19
    Description: In 2009 the EU adopted a new migration policy instrument - the Blue Cards (BC) - for attracting highly skilled workers to the EU. The present paper examines the potential impacts, which BC may cause on the less developed sending countries (LDC). According to the adopted framework of innovative capital, the BC will reduce human capital in LDC. In addition, BC will also have a negative impact on knowledge capital. These findings suggest that the BC is not coherent with the EU’s development policy. Without appropriate policy responses, BC fade the developing country growth prospects away. In order to address the skill drain issues, we propose and examine alternative migration policy options for the LDC.
    Keywords: F02 ; F22 ; J24 ; J61 ; O15 ; ddc:330 ; African sending countries ; high-skill migration ; EU Blue Cards ; innovative capital ; economic growth ; LDC
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 3
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    Brussels: Economics and Econometrics Research Institute (EERI)
    Publication Date: 2018-01-19
    Description: Recently, the EU Council adopted a new labour migration policy instrument - the EU Blue Cards (BC) - for attracting the highly skilled workers to the EU. The present paper examines the potential impacts, which BC may cause on less developed sending countries (LDC). Our results suggest that the EU BC will reduce human capital in LDC. In addition, BC will also have a negative impact on knowledge capital. These findings suggest that without appropriate policy responses, BC makes developing country growth prospects rather bleak than blue. Therefore, we propose and analyse alternative migration policy instruments for LDC. We find that policies implemented on the demand side of the skilled labour market are the most efficient. In contrast, policies that address the supply side of the skilled labour market are the least efficient, though they might be less costly to implement.
    Keywords: F02 ; F22 ; J24 ; J61 ; O15 ; ddc:330 ; Knowledge capital ; human capital ; high-skill migration ; innovative capital ; economic growth
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 4
    Publication Date: 2018-06-28
    Description: In this paper we analyze the impact of immigrants on the type and quantity of native jobs. We use data on fifteen Western European countries during the 1996-2010 period. We find that immigrants, by taking manual-routine type of occupations pushed natives towards more complex (abstract and communication) jobs. Such positive reallocation occurred while the total number of jobs held by natives was unaffected. This job upgrade was associated in the short run to a 0.6% increase in native wages for a doubling of the immigrants' share. These results are robust to the use of two alternative IV strategies based on past settlement of immigrants across European countries measured alternatively with Census or Labor Force data. The job upgrade slowed, but did not come to a halt, during the Great Recession. We also document the labor market flows behind it: the complexity of jobs offered to new native hires was higher relative to the complexity of lost jobs. Finally, we find evidence that such reallocation was significantly larger in countries with more flexible labor laws and that his tendency was particularly strong for less educated workers.
    Keywords: J24 ; J31 ; J61 ; ddc:330 ; Immigration ; Jobs ; Task specialization ; Employment Protection Laws ; Europe
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 5
    Publication Date: 2018-11-15
    Description: During the last decade, economists have intensively searched for evidence on the importance of the Balassa-Samuelson (B-S) hypothesis in explaining nominal convergence. One general result is that B-S can at best explain only part of the excess inflation observed in the European catching-up countries, which suggests that other factors may be at play. In these and related studies, however, the potential role of the exchange rate regime in affecting price convergence in Europe has been overlooked. In this respect, we claim that the choice of the exchange rate regime has decisively affected the path of nominal convergence. To show this, we first model the (endogenous) choice of the exchange rate regime and, in a second stage, estimate a B-S type of regression for each regime. Our results show that, for countries which pegged to or adopted the euro, the effect of the same increase in the dual productivity growth (that is, the difference in productivity growth between the traded and non-traded sectors) on the dual inflation differential is more than twice as large as that in the flexible countries. We conclude that, in a catching-up country, premature euro adoption may foster excess inflation, beyond that which is to be expected as a consequence of productivity convergence on the basis of the B-S effect.
    Keywords: C34 ; E52 ; F31 ; ddc:330 ; exchange rate regimes ; Balassa-Samuelson effect ; inflation ; euro adoption
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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