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We determine winners and losers of immigration using a general equilibrium search and matching model in which native and non-native employees, who are heterogeneous with respect to their skill level, produce different types of goods. Unemployment benefits and the provision of public goods are financed by a progressive taxation on wages and profits. The estimation of the baseline model for Italy shows that the presence of non-natives in 2017 led real wages of low and high-skilled employees to be 4% lower and 8% higher, respectively. Profits of employers in the low-skilled market were 6% lower, while those of employers in the high-skilled market were 10% higher. At aggregate level, total GDP was 14% higher, GDP per worker and the per capita provision of public goods 4% higher, while government revenues and social security contributions raised by 70 billion euros and 18 billion euros, respectively.
In this paper we propose a theoretical model including a susceptible-infected-recovered-dead (SIRD) model of epidemic in a dynamic macroeconomic general equilibrium framework with agents mobility. The latter affect both their income (and consumption)
This paper experimentally studies whether individuals hold a first-order belief that others apply Bayes rule to incorporate private information into their beliefs, which is a fundamental assumption in many Bayesian and non-Bayesian social learning mo
Decades of research suggest that information exchange in groups and organizations can reliably improve judgment accuracy in tasks such as financial forecasting, market research, and medical decision-making. However, we show that improving the accurac
An increasing number of politicians are relying on cheaper, easier to access technologies such as online social media platforms to communicate with their constituency. These platforms present a cheap and low-barrier channel of communication to politi
The inventories carried in a supply chain as a strategic tool to influence the competing firms are considered to be strategic inventories (SI). We present a two-period game-theoretic supply chain model, in which a singular manufacturer supplies produ