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Calculating Immigration's Economic Boost
Posted at 1:15 p.m. on Feb. 4
Miles Kimball runs the numbers on the economic impact of some basic scenarios, noting that “this bare bones model suggests that in a richer model, output will ultimately grow more.”
“If the skilled workers are willing to bet that the combination of higher returns to capital, extra technological progress, the benefits of increasing returns to scale and diversity, and the share of the national debt and of unfunded government liabilities that immigrants will shoulder would make up for the -.4% reduction in wages they see in the bare bones model, the unskilled workers have no reason to object…since even in the bare bones model, their wage is unaffected, and all other factors then push in the direction of doing better economically.”
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