Economists and Immigration

James Hamilton and Andrew Samwick weigh in on the Immigration debate:

Although I understand the controversies about the economic costs and benefits about immigration, I am personally persuaded that the recent magnitude of the immigration into the U.S. has had some undesirable consequences, such as depressing the wages of lower-skilled native-born Americans and raising the costs of social services. But even if you are convinced of that, it's not clear where you tackle the problem.

It is an extremely complex issue: clearly the U.S. does not have the resources to absorb the number of people who want to move here, so limits will have to be placed. On the other hand, if you look at individual cases, you will get heartbroken. We need to remember that people who go through the proper steps should always be given priority: I know people in Asia who apply for permanent residency, and wait for years to get approved. From a competitive standpoint, students who get advanced degrees in scientific, technical, or quantitative disciplines should be given permanent residency as soon as they graduate.