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A Panel Data Analysis of the Brain Gain

Michel Beine (), Defoort Cecily and Frédéric Docquier ()
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Defoort Cecily: UNIVERSITE CATHOLIQUE DE LOUVAIN, Department of Economics

No 2007024, Discussion Papers (ECON - Département des Sciences Economiques) from Université catholique de Louvain, Département des Sciences Economiques

Abstract: This paper casts the Belgian Great Depression of the 1930s within a dynamic stochastic general equilibrium (DSGE) framework. Results show that a total factor productivity shock within a standard real business cycle model is unsatisfactory. Introducing war expectations in the baseline model produces little improvement. Given the evidence on sticky wages put forward by historians, it shows that a simple DGSE model with sticky wages à la Taylor improves on the result.

Keywords: human capital; convergence; brain drain (search for similar items in EconPapers)
JEL-codes: O15 O40 F22 F43 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-his, nep-hrm and nep-mig
Date: 2007-08-01
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http://sites.uclouvain.be/econ/DP/IRES/2007-24.pdf (application/pdf)

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Journal Article: A Panel Data Analysis of the Brain Gain (2011) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvec:2007024

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