Immigration boosts innovation and wages in the US. The positive dynamic impact of immigration on innovation and wages dominates the short-run negative impact of increased labor supply. Increased immigration to the US since 1965 is estimated to have increased innovation and wages by 5%.

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The first race of the season is next week in Australia (March 6-8). Practice begins Friday with qualifying on Saturday and the grand prix on Sunday. Or if you live in the US, that will be Thursday night through Saturday night (race begins at 11PM ET).