The Asymmetric Impact of Out-Migration and Return Migration on Wages in the Source Country: Evidence from Mexico
研究了从美国回流到墨西哥的移民对墨西哥工人工资的影响，并与向外迁移的影响进行对比，发现回流移民与非移民工人是不完全替代的，这种不完全替代源于移民在国外获得的人力资本。
This paper studies the impact of return migrants from the United States to Mexico on workers’ wages in Mexico and contrasts it with the effect of out-migration trends. The empirical estimation reveals that return migrants and nonmigrant workers are imperfect substitutes. The mechanism driving imperfect substitution is consistent with migrants’ foreign acquisition of human capital that is valued in the home-country labor market. The results suggest that occupation-specific experience in the United States drives imperfect substitution. Imperfect substitution generates distributional and sign asymmetries on the impact of wages for out-migrant- and return-migrant-induced labor supply shocks of the same magnitude.