Migration, remittances and accumulation of human capital with endogenous debt constraints

This paper studies the impact of migration and workers’ remittances on human capital economic growth when young individuals face debt constraints to finance education. We consider an overlapping generations model à la de Croix Michel (2007). In this no-commitment setting, education is engine growth. Individuals may choose default their be excluded from asset market. show that tend tighten borrowing for a given level interest rate, but enhance at equilibrium. The replicates both negative positive impacts underlined by empirical literature. calibrate 30 economies.