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
Responses weighted by each expert's confidence
Participant | University | Vote | Confidence | Bio/Vote History |
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Philippe Aghion |
Harvard | Did Not Answer | Bio/Vote History | |
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Franklin Allen |
Imperial College London | 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.
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Pol Antras |
Harvard | Bio/Vote History | ||
The effect on aggregate income (even aggregate income per capita) will likely be positive; but distributive effects might lead to discontent
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Richard Baldwin |
The Graduate Institute Geneva | Did Not Answer | Bio/Vote History | |
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Timothy J. Besley |
LSE | Did Not Answer | Bio/Vote History | |
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Olivier Blanchard |
Peterson Institute | Bio/Vote History | ||
it very much depends on the degree to which the refugees eventually become integrated and productive. Not clear at this point.
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Nicholas Bloom |
Stanford | Bio/Vote History | ||
This was an incredible humanitarian move but the economics are unclear. They are accepting mainly unskilled and often traumatized people.
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Richard William Blundell |
University College London | 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
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Agnès Bénassy-Quéré |
Paris School of Economics | Bio/Vote History | ||
I think it will take more than a decade for the net economic benefits to appear.
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Elena Carletti |
Bocconi | Bio/Vote History | ||
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Jean-Pierre Danthine |
Paris School of Economics | Did Not Answer | Bio/Vote History | |
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Paul De Grauwe |
LSE | Bio/Vote History | ||
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Jan Eeckhout |
UPF Barcelona | Bio/Vote History | ||
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Ernst Fehr |
Universität Zurich | Did Not Answer | Bio/Vote History | |
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Xavier Freixas |
Barcelona GSE | Bio/Vote History | ||
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Nicola Fuchs-Schündeln |
Goethe-Universität Frankfurt | Bio/Vote History | ||
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Jordi Galí |
Barcelona GSE | Bio/Vote History | ||
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Luis Garicano |
LSE | Did Not Answer | Bio/Vote History | |
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Francesco Giavazzi |
Bocconi | Bio/Vote History | ||
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Rachel Griffith |
University of Manchester | Bio/Vote History | ||
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Veronica Guerrieri |
Chicago Booth | Bio/Vote History | ||
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Luigi Guiso |
Einaudi Institute for Economics and Finance | Bio/Vote History | ||
I have no theoretcial guidance to anser the question
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Martin Hellwig |
Max Planck Institute for Research on Collective Goods | 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.
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Patrick Honohan |
Trinity College Dublin | 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.
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Henrik Kleven |
Princeton | Did Not Answer | Bio/Vote History | |
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Jan Pieter Krahnen |
Goethe University Frankfurt | Bio/Vote History | ||
Direct effects likely negative, while indirect effects -ranging from fiscal stimuli to change in immigration policy- likely positive. Sum=?
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Per Krusell |
Stockholm University | Bio/Vote History | ||
The adjustment likely takes longer (even though German labor markets allow low entry wages). Eventually the average benefits will be > 0.
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Botond Kőszegi |
Central European University | Bio/Vote History | ||
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Eliana La Ferrara |
Harvard Kennedy | Bio/Vote History | ||
Depends on extent refugees' integration in labor market. If successful, benefits for pension system could outweigh social welfare costs.
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Christian Leuz |
Chicago Booth | 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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Costas Meghir |
Yale | Did Not Answer | Bio/Vote History | |
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Peter Neary |
Oxford | Bio/Vote History | ||
Net benefits from increased labor supply. Losses to some workers possible. Poor integration could lead to social unrest: safety nets needed
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Kevin O'Rourke |
Oxford | Bio/Vote History | ||
It will depend on their composition, how well they are integrated into labour markets, and other factors. Plus: which German citizens?
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Marco Pagano |
Università di Napoli Federico II | Bio/Vote History | ||
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Lubos Pastor |
Chicago Booth | Bio/Vote History | ||
The economy will get bigger but maybe not per capita and there will be redistribution.
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Torsten Persson |
Stockholm University | Did Not Answer | Bio/Vote History | |
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Christopher Pissarides |
London School of Economics and Political Science | Bio/Vote History | ||
refugees are primarily young, which is good, but unqualified in things needed by German industry, which could offset benefits
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Richard Portes |
London Business School | Bio/Vote History | ||
Depends partly on integration policies. But evidence clear: immigrants bring dynamism, improve demography, net fiscal contributors.
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Canice Prendergast |
Chicago Booth | Bio/Vote History | ||
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Lucrezia Reichlin |
London Business School | Bio/Vote History | ||
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Rafael Repullo |
CEMFI | Bio/Vote History | ||
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Hélène Rey |
London Business School | Did Not Answer | Bio/Vote History | |
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Antoinette Schoar |
MIT | Bio/Vote History | ||
The benefits of the immigration will depend on how well German society can provide education opportunities and integrate the refugees.
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John Van Reenen |
LSE | Bio/Vote History | ||
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John Vickers |
Oxford | Bio/Vote History | ||
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Hans-Joachim Voth |
University of Zurich | Bio/Vote History | ||
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Beatrice Weder di Mauro |
The Graduate Institute, Geneva | Bio/Vote History | ||
Most refugees lack the skills to be quickly integrated into the German labor market. EducatIon and integration policies will be key
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Karl Whelan |
University College Dublin | 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.
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Charles Wyplosz |
The Graduate Institute Geneva | Bio/Vote History | ||
This is a big plus given a sharply negative natural demography, but... Absorbing this population will be long and costly.
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Fabrizio Zilibotti |
Yale University | Bio/Vote History | ||
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