SOME ASPECTS OF ECONOMIC ADJUSTMENTS THROUGH MIGRATION FLOWS.

This article examines some aspects of economic adjustment through migration flows. The authors are concerned with a contrasting case, the case in which it is assumed that there is no trade in goods, but that labor is internationally mobile and moves in response to wage differentials. Interest in this case is generated by the fact that while population movements are of obvious quantitative importance in the real world, their implications for economic adjustment often have not been systematically taken into account. The authors are able to consider not only the direct effect on migration flows of influences such as changes in relative wages or changes in the age structure of the population, whatever their cause, but also to analyze the impact of migration on the productive capacities and income levels of the migrant-receiving and migrant-losing countries, and hence on the course of future migration.