With support from the Mercator Foundation (www.stiftung-mercator.de), we are about to begin a three-year project to provide policy advice and conduct related academic research on the European immigration and asylum system. Together with our research partners (Migration Policy Centre at the European University Institute – www.migrationpolicycentre.eu; Centre for European Policy Studies – www.ceps.eu), we will work with policy-makers, civil society, and other stakeholders to jointly produce knowledge to support the design and implementation of innovative policies. We will adopt an economic perspective and consider all stages of the migration process, including the welfare of migrants themselves, those left behind in migrants’ countries of origin, migrants’ integration in their countries of destination, and international cooperation in the provision of asylum and employment opportunities. Our flagship output will be a comprehensive annual Assessment Report, with additional, smaller publication formats targeted to specific audiences. Publications in high-quality, peer-reviewed academic journals will be crucial in documenting that our policy advice is based on sound economic research.