The Socioeconomic Benefits of Immigration to Newfoundland and Labrador
Wednesday, March 22, 7:30-9 p.m.
Economics Speaker Series. Presentation by Dr. Tony Fang, Stephen Jarislowsky Chair in Economic and Cultural Transformation. Recent events such as the European refugee crisis, Brexit, and the 2016 US election have drawn intense debates over immigration and refugee policies worldwide. This public lecture first reviews the recent trends in immigration policies and demographic challenges for Newfoundland and Labrador. Drawing experiences from Australia, Canada, and the United States, the economic, social and cultural benefits of immigration will be discussed, supported by empirical evidences of both long-run and short-run impacts of large-scale immigration to Canada. The long-run effects will be focused on innovation and entrepreneurship. The short-run economic indicators have included real GDP and GDP per capita; employment and unemployment; aggregate demand and especially for housing; investment and productivity; and government expenditures, taxes and net government balances for a 10-year simulation period (2012-2021), using the Census data and a macroeconomic model (FOCUS), developed and maintained by the University of Toronto. The national results will be also calibrated for Newfoundland and Labrador. The lecture will conclude with the policy implications of the findings and some policy recommendations for NL and Canada.
Presented by Deaprtment of Economics