The impact of immigration on geographic mobility of New Zealanders

This paper uses data from the New Zealand Census to examine how the supply of recent migrants in particular skill groups affects the geographic mobility of the New Zealand-born and earlier migrants. We identify the impact of recent migration on mobility using the ‘area-analysis’ approach, which exploits the fact that immigration is spatially concentrated, and thus a change in the local supply of migrants in a particular skill group should have an impact on the mobility of similarly skilled nonmigrants in that local labour market. Overall, our results provide little support for the hypothesis that migrant inflows displace either the NZ-born or earlier migrants with similar skills in the areas that new migrants are settling. If anything, they suggest that there are positive spillovers between recent migrants and other individuals that encourage individuals to move to or remain in the areas in which similarly skilled migrants are settling. Thus, it appears unlikely that internal mobility moderates any potential impacts of immigration on labour or housing markets in New Zealand

Emigration and the age profile of retirement among immigrants

This paper analyzes the relationship between immigrants’ retirement status and the prevalence of return migration from the host country to their country of origin. We develop a simple theoretical model to illustrate that under reasonable conditions the probability of return migration is maximized at retirement. Reduced-form models of retirement status which control for the rate of return migration are then estimated using unique data on emigration rates matched to individual-level data for Australia. We find that immigrants, particularly immigrant women, are more likely to be retired than are native-born men and women with the same demographic, human capital, and family characteristics. Moreover, within the immigrant population, there is a negative relationship between the propensity to be retired and the return migration rate of one’s fellow countrymen, particularly amongst men. This link is strongest for those individuals who are at (or near) retirement age and among those with the highest cost of return migration. These results suggest that the fiscal pressures associated with aging immigrant populations vary substantially across origin countries

A land of milk and honey with streets paved with gold: do emigrants have over-optimistic expectations about incomes abroad?

Millions of people emigrate every year in search of better economic and social opportunities. Anecdotal evidence suggests that emigrants may have over-optimistic expectations about the incomes they can earn abroad, resulting in excessive migration pressure, and in disappointment amongst those who do migrate. Yet there is almost no statistical evidence on how accurately these emigrants predict the incomes that they will earn working abroad. In this paper we combine a natural emigration experiment with unique survey data on would-be emigrants’ probabilistic expectations about employment and incomes in the migration destination. Our procedure enables us to obtain moments and quantiles of the subjective distribution of expected earnings in the destination country. We find a significant underestimation of both unconditional and conditional labor earnings at all points in the distribution. This under-estimation appears driven in part by potential migrants placing too much weight on the negative employment experiences of some migrants, and by inaccurate information flows from extended family, who may be trying to moderate remittance demands by understating incomes

Analyzing the Competitive Effects of Mergers: Is There Anything Special about Railroads

Empirical evidence demonstrates that mergers, on average, create value for shareholders of the merging firms. The relevant question from an antitrust perspective, however, is the source of these gains. Increased efficiency is one possibility. It is also possible that in some cases merger gains derive not from enhanced efficiency, but rather from an enhanced ability to realize monopoly profits. To determine whether a proposed merger is likely to be pro- or anti-competitive, economists often follow the approach outlined in the United States Justice Department\u27s Merger Guidelines and ask whether the merger seems likely to facilitate collusion. In reviewing the competitive effects of the proposed sale of Conrail to Norfolk Southern, the Justice Department took the position that the standards it uses to analyze mergers under the Clayton Act are substantially the same as the standards used by the Interstate Commerce Commission (ICC) in analyzing railroad mergers coming before that body. This paper is not a critical review of the Justice Department\u27s economic analysis of the recently abandoned transaction between Conrail and Norfolk Southern, nor is it a legal analysis of the Justice Department\u27s position that its standards are those of the ICC. The subjects of this paper are more general. First, we explain in more detail the conventional economic analysis of the competitive effects of mergers and how that analysis should be applied in the railroad industry. Defining the relevant market receives special emphasis. Second, we consider whether there is anything extraordinary about the railroad industry that renders the conventional analysis incomplete or inappropriate

Analyzing the Competitive Effects of Mergers: Is There Anything Special about Railroads

Empirical evidence demonstrates that mergers, on average, create value for shareholders of the merging firms. The relevant question from an antitrust perspective, however, is the source of these gains. Increased efficiency is one possibility. It is also possible that in some cases merger gains derive not from enhanced efficiency, but rather from an enhanced ability to realize monopoly profits. To determine whether a proposed merger is likely to be pro- or anti-competitive, economists often follow the approach outlined in the United States Justice Department\u27s Merger Guidelines and ask whether the merger seems likely to facilitate collusion. In reviewing the competitive effects of the proposed sale of Conrail to Norfolk Southern, the Justice Department took the position that the standards it uses to analyze mergers under the Clayton Act are substantially the same as the standards used by the Interstate Commerce Commission (ICC) in analyzing railroad mergers coming before that body. This paper is not a critical review of the Justice Department\u27s economic analysis of the recently abandoned transaction between Conrail and Norfolk Southern, nor is it a legal analysis of the Justice Department\u27s position that its standards are those of the ICC. The subjects of this paper are more general. First, we explain in more detail the conventional economic analysis of the competitive effects of mergers and how that analysis should be applied in the railroad industry. Defining the relevant market receives special emphasis. Second, we consider whether there is anything extraordinary about the railroad industry that renders the conventional analysis incomplete or inappropriate

Immunological characterization of chromatin assembly factor I, a human cell factor required for chromatin assembly during DNA replication in vitro

Chromatin assembly factor I (CAF-I) is a multisubunit protein complex purified from the nuclei of human cells and required for chromatin assembly during DNA replication in vitro. Purified CAF-I promotes chromatin assembly in a reaction that is dependent upon, and coupled with, DNA replication and is therefore likely to reflect events that occur during S phase in vivo. In order to investigate the regulation and mechanism of CAF-I and the replication-dependent chromatin assembly process, we have used the purified protein to raise monoclonal antibodies. In this report we describe the characterization of a panel of monoclonal antibodies which recognize different subunits of the CAF-I complex. We use immunoprecipitation analysis to show that CAF-I exists as a multiprotein complex in vivo and that some of the polypeptides are phosphorylated. In addition, immunocytochemistry demonstrates that CAF-I is localized to the nucleus of human cells. Finally, monoclonal antibodies directed against the individual subunits of CAF-I immunodeplete chromatin assembly activity from nuclear extracts, confirming that CAF-I is a multisubunit protein required for chromatin assembly in vitro

Replication factor-A from Saccharomyces cerevisiae is encoded by three essential genes coordinately expressed at S phase

Replication factor-A (RF-A) is a three-subunit protein complex originally purified from human cells as an essential component for SV40 DNA replication in vitro. We have previously identified a functionally homologous three-subunit protein complex from the yeast Saccharomyces cerevisiae. Here we report the cloning and characterization of the genes encoding RF-A from S. cerevisiae. Each of the three subunits is encoded by a single essential gene. Cells carrying null mutations in any of the three genes arrest as budded and multiply budded cells. All three genes are expressed in a cell-cycle-dependent manner; the mRNA for each subunit peaks at the G1/S-phase boundary. A comparison of protein sequences indicates that the human p34 subunit is 29% identical to the corresponding RFA2 gene product. However, expression of the human protein fails to rescue the rfa2::TRP1 disruption

Sucker Rumination: How Aversive Self-Directed Cognitions Affect Purchase Intentions

If there is a silver lining to having been tricked in an economic context, perhaps it is that one can be wiser for the experience. Presumably, people are able to learn from such transactions and avoid them in the future. The current study employed an experimental design in which some participants were assigned to a control condition and others were told that they had recently been duped. Results indicated that among those who felt duped, people high in sucker rumination were subsequently less likely to avoid the source of deception. That is, people with a tendency to blame themselves harshly for being duped were the least likely to be wiser for the experience. For people high in sucker rumination, there is a great deal of psychic discomfort in getting duped, but no silver lining of being wiser