THE MARKET FOR DEADBEATS

This article outlines three explanations for why states seek migrants and tests them by reference to 1985-90 interstate migration flows. On race-for-the-top theories, states compete for value-increasing migrant s by offering them healthy economies and efficient laws. On vote-seeki ng theories, states compete for clienteles of voters, with some states seeking to attract and some to deter welfare- or tax-loving migrants. On deadbeat theories, states compete for high human capital debtors b y offering them a fresh start from out-of-state creditors. Our finding s support vote-seeking and deadbeat theories.