The Economics of Immigration

Originally posted on owenzidar:

Given the interest and policy relevance (as well as Miles Kimball’s immigration tweet day), I thought I’d write a post on the theory and empirics of the effects of immigration in the labor market.

A simple starting point for thinking about the labor market effects of immigration begins with the supply and demand for labor.

immigration1

Supply:
An increase in the number of immigrants increases aggregate labor supply. You can see this in the chart as a rightward shift in labor supply (from S to S’) since the number of people who are willing to work for a given wage increases for all wages. Based partially on this simple framework, some believe that immigration decreases wages. Prominent economists in the immigration literature such as George Borjas espouse this “labor demand is downward sloping” view of immigration and argue that increased immigration adds to the supply of workers and depresses the…

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Overconfidence in Political Behavior and its Effects on Ideological Extremeness and Voter Turnout

From Pietro Ortoleva and Erik Snowberg:

This paper studies, theoretically and empirically, the role of overconfidence in political behavior. Our model of overconfidence in beliefs predicts that overconfidence leads to ideological extremeness, increased voter turnout, and increased strength of partisan identification. Moreover, the model makes many nuanced predictions about the patterns of ideology in society, and over a person’s lifetime. These predictions are tested using unique data that measure the overconfidence, and standard political character- istics, of a nationwide sample of over 3,000 adults. Our numerous predictions find strong support in these data. In particular, we document that overconfidence is a substantively and statistically important predictor of ideological extremeness and voter turnout.

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The Impact of the Work of Gary Becker

“It [economics] is judged ultimately by how well it helps us understand the world, and how well we can help improve it.” – Gary Becker

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A few useful job market resources

Originally posted on owenzidar:

I’ll post more on this topic after the job market, but here are a few links that I have found helpful

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Developments in Economics, 1950-1990

From Jim Heckman’s retrospective on Gary Becker:developments3

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Risk and Information in the Municipal Bond Market

NBER Reporter 2014 Number 3: Research Summary.

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Declining Savings Among the Bottom 90%

Screenshot 2014-10-18 21.25.21

From Saez and Zucman (2014)

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