Refugees in Germany

The influx of refugees into Germany beginning in the summer of 2015 will generate net economic benefits for German citizens over the succeeding decade.

Responses weighted by each expert's confidence

Participant University Vote Confidence Bio/Vote History
Aghion
Philippe Aghion
Harvard Did Not Answer Bio/Vote History
Allen
Franklin Allen
Imperial College London
Agree
6
Bio/Vote History
I am not very well informed on the skill sets of the refugees that have been allowed to stay. In general I think immigration is beneficial.
Antras
Pol Antras
Harvard
Agree
8
Bio/Vote History
The effect on aggregate income (even aggregate income per capita) will likely be positive; but distributive effects might lead to discontent
Baldwin
Richard Baldwin
The Graduate Institute Geneva Did Not Answer Bio/Vote History
Besley
Timothy J. Besley
LSE Did Not Answer Bio/Vote History
Blanchard
Olivier Blanchard
Peterson Institute
Uncertain
6
Bio/Vote History
it very much depends on the degree to which the refugees eventually become integrated and productive. Not clear at this point.
Bloom
Nicholas Bloom
Stanford
Uncertain
4
Bio/Vote History
This was an incredible humanitarian move but the economics are unclear. They are accepting mainly unskilled and often traumatized people.
Blundell
Richard William Blundell
University College London
Agree
7
Bio/Vote History
This is a fairly skilled and young group, precisely the right mixture of human capital. Of course, there are some losers and usual frictions
Bénassy-Quéré
Agnès Bénassy-Quéré
Paris School of Economics
Uncertain
3
Bio/Vote History
I think it will take more than a decade for the net economic benefits to appear.
Carletti
Elena Carletti
Bocconi
Agree
5
Bio/Vote History
Danthine
Jean-Pierre Danthine
Paris School of Economics Did Not Answer Bio/Vote History
De Grauwe
Paul De Grauwe
LSE
Agree
7
Bio/Vote History
Eeckhout
Jan Eeckhout
UPF Barcelona
Agree
7
Bio/Vote History
Fehr
Ernst Fehr
Universität Zurich Did Not Answer Bio/Vote History
Freixas
Xavier Freixas
Barcelona GSE
Uncertain
5
Bio/Vote History
Fuchs-Schündeln
Nicola Fuchs-Schündeln
Goethe-Universität Frankfurt
Uncertain
4
Bio/Vote History
Galí
Jordi Galí
Barcelona GSE
Uncertain
8
Bio/Vote History
Garicano
Luis Garicano
LSE Did Not Answer Bio/Vote History
Giavazzi
Francesco Giavazzi
Bocconi
Agree
5
Bio/Vote History
Griffith
Rachel Griffith
University of Manchester
Disagree
4
Bio/Vote History
Guerrieri
Veronica Guerrieri
Chicago Booth
Agree
8
Bio/Vote History
Guiso
Luigi Guiso
Einaudi Institute for Economics and Finance
Uncertain
5
Bio/Vote History
I have no theoretcial guidance to anser the question
Hellwig
Martin Hellwig
Max Planck Institute for Research on Collective Goods
No Opinion
Bio/Vote History
The outcome is highly contingent on the extent of labor market opening and on integration. No general assessment can be seriously made.
Honohan
Patrick Honohan
Trinity College Dublin
Agree
6
Bio/Vote History
Aging Europe must find ways of coping with immigration; though the 2015 surge may have unleashed political forces with bad economic impact.
Kleven
Henrik Kleven
Princeton Did Not Answer Bio/Vote History
Krahnen
Jan Pieter Krahnen
Goethe University Frankfurt
Uncertain
9
Bio/Vote History
Direct effects likely negative, while indirect effects -ranging from fiscal stimuli to change in immigration policy- likely positive. Sum=?
Krusell
Per Krusell
Stockholm University
Disagree
5
Bio/Vote History
The adjustment likely takes longer (even though German labor markets allow low entry wages). Eventually the average benefits will be > 0.
Kőszegi
Botond Kőszegi
Central European University
Uncertain
9
Bio/Vote History
La Ferrara
Eliana La Ferrara
Harvard Kennedy
Uncertain
6
Bio/Vote History
Depends on extent refugees' integration in labor market. If successful, benefits for pension system could outweigh social welfare costs.
Leuz
Christian Leuz
Chicago Booth
Agree
2
Bio/Vote History
Agree for migrants,esp w/ low birth rate as DE. Less clear w/ large ref influx. Key is quick right to work&access to education. DE too rigid
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Meghir
Costas Meghir
Yale Did Not Answer Bio/Vote History
Neary
Peter Neary
Oxford
Strongly Agree
7
Bio/Vote History
Net benefits from increased labor supply. Losses to some workers possible. Poor integration could lead to social unrest: safety nets needed
O'Rourke
Kevin O'Rourke
Oxford
Uncertain
8
Bio/Vote History
It will depend on their composition, how well they are integrated into labour markets, and other factors. Plus: which German citizens?
Pagano
Marco Pagano
Università di Napoli Federico II
Uncertain
1
Bio/Vote History
Pastor
Lubos Pastor
Chicago Booth
Uncertain
3
Bio/Vote History
The economy will get bigger but maybe not per capita and there will be redistribution.
Persson
Torsten Persson
Stockholm University Did Not Answer Bio/Vote History
Pissarides
Christopher Pissarides
London School of Economics and Political Science
Uncertain
8
Bio/Vote History
refugees are primarily young, which is good, but unqualified in things needed by German industry, which could offset benefits
Portes
Richard Portes
London Business School
Strongly Agree
9
Bio/Vote History
Depends partly on integration policies. But evidence clear: immigrants bring dynamism, improve demography, net fiscal contributors.
Prendergast
Canice Prendergast
Chicago Booth
Agree
6
Bio/Vote History
Reichlin
Lucrezia Reichlin
London Business School
Agree
5
Bio/Vote History
Repullo
Rafael Repullo
CEMFI
Agree
5
Bio/Vote History
Rey
Hélène Rey
London Business School Did Not Answer Bio/Vote History
Schoar
Antoinette Schoar
MIT
Uncertain
7
Bio/Vote History
The benefits of the immigration will depend on how well German society can provide education opportunities and integrate the refugees.
Van Reenen
John Van Reenen
LSE
Uncertain
1
Bio/Vote History
Vickers
John Vickers
Oxford
Uncertain
3
Bio/Vote History
Voth
Hans-Joachim Voth
University of Zurich
Strongly Disagree
8
Bio/Vote History
Weder di Mauro
Beatrice Weder di Mauro
The Graduate Institute, Geneva
Uncertain
9
Bio/Vote History
Most refugees lack the skills to be quickly integrated into the German labor market. EducatIon and integration policies will be key
Whelan
Karl Whelan
University College Dublin
Agree
7
Bio/Vote History
Germany has very poor demographics and its population is set to contract. Taking in immigrants will have many long-term economic benefits.
Wyplosz
Charles Wyplosz
The Graduate Institute Geneva
Strongly Agree
8
Bio/Vote History
This is a big plus given a sharply negative natural demography, but... Absorbing this population will be long and costly.
Zilibotti
Fabrizio Zilibotti
Yale University
Uncertain
5
Bio/Vote History