Chen, Kong-Pin; Chiang, Shin-Hwang; Leung, Siu-Fai - Department of Economics, York University - 2002
This paper proposes a formal model of migration in which workers are heterogeneous and markets are stochastically correlated. We derive and characterize the optimal migration pattern of a family. It is shown to depend on differences in expected earnings, costs of migration, income risks, and...