This paper focuses on the heterogeneity of the effects of immigration across firms depending on the capital intensity of the firm. We build a model that allows us to capture this heterogeneity unambiguously. We use data from Turkey, where refugees from Syria have reached 4.5\% of the Turkish population in only nine years. Our empirical analysis is based on IV and Difference-in-Differences (Diff-in-Diff) methodologies. We find that immigration favors labor-intensive firms. The effect on capital-intensive firms is negative in sign but does not reach statistical significance.
J.E.L. codes: F14, F22