Working Papers
The Anatomy of Capital Returns over the Very Long Run: Germany, 1465–2025
Economics Working Paper 26128
November 6, 2026
Immigrants from five Asian countries — India, China, South Korea, Japan, and the Philippines — account for much of the growth in U.S. software developers, scientists, engineers, and physicians since 1990. What forces drove this migration of foreign talent? What are the economic effects in the United States? In the source countries? Steve talks about these matters with Gaurav Khanna, who has done extensive research on high-skilled immigration and its economic consequences.
Recorded on January 6, 2026.
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