Discussion Paper Details

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Title: Human Capital, Investment and Migration in an Integrated Europe

Author(s): Michael C Burda and Charles Wyplosz

Publication Date: December 1991

Keyword(s): Aggregate Supply, Eastern Europe, Investment and Migration

Programme Area(s): International Macroeconomics

Abstract: The short- and longer-term regional consequences of migration for European aggregate supply are examined in a simple model in which human capital enters the production function externally. The planner chooses a reallocation of population across East and West that cannot be replicated by the market without taxes or subsidies. The market solution in this model with free migration is always associated with an efficiency loss and might lead to the `Mezzogiorno syndrome' in the East.

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Bibliographic Reference

Burda, M and Wyplosz, C. 1991. 'Human Capital, Investment and Migration in an Integrated Europe'. London, Centre for Economic Policy Research.