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on Urban and Real Estate Economics |
| By: | Johannes Rincke (Zentrum für Europäische Wirtschaftsforschung) |
| Abstract: | This paper investigates how local jurisdictions in a federal system influence each other in the adoption of policy innovations. We look at school districts in Michigan and their participation in a public school choice program launched in 1996. Districts' participation decisions are modelled as simultaneous discrete choice decisions using a spatial latent variable model. Strong effects are found saying that lagged adoptions of neighbors positively affect the current probability of participation. This finding is robust to various changes in specification. The results suggest that in federal systems the diffusion of policy innovations is stimulated by horizontal interactions between jurisdictions. |
| JEL: | D6 D7 H |
| Date: | 2005–11–16 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwppe:0511011&r=ure |
| By: | Germà Bel (University of Barcelona); Xavier Fageda (University of Barcelona) |
| Abstract: | Information exchanges across firms within cities are considered to be one of the major agglomeration forces in the regional economics literature. In addition, the quality of transport infrastructures arises as one of the major determinants in the location decisions of firms across cities and hence on urban economic growth. However, the significance of information exchanges between cities and the role of airports as a mean of managing such information efficiently has received much less attention. We deal with these issues through the empirical analysis of the determinants of the location of large firms´ headquarters across major European urban areas, focusing the attention on the attractiveness of a city for large firms due to the supply of non-stop intercontinental flights. |
| Keywords: | Headquarters, Airports, Information. |
| JEL: | L93 R10 R58 |
| Date: | 2005–11–16 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpur:0511008&r=ure |
| By: | Joseph B. Nichols (Economics University of Maryland) |
| Abstract: | This paper develops a detailed partial equilibrium model of housing wealth's role over the life-cycle to explore (1) housing's dual role as a consumption and investment good; (2) the significance of the mortgage contract being in nominal and not real terms; and (3) the tax benefits associated with owner-occupied housing. The stochastic dynamic programming problem is solved using parallel processing. The baseline model is then compared with a set of alternate scenarios to explore these three key aspects of housing wealth. The results show that the ``over-investment'' in housing is not just a function of consumption demand but also can be driven by the benefits inherent in the mortgage contract. It also shows that the nominal mortgage contract results in the non-neutrality of perfectly expected inflation. Finally, the paper documents the effect of preferential tax treatment on housing demand |
| Keywords: | housing, mortgages, life-cycle model, parallel processing, portfolio allocation |
| JEL: | E21 G11 G21 |
| Date: | 2005–11–11 |
| URL: | http://d.repec.org/n?u=RePEc:sce:scecf5:75&r=ure |
| By: | Andrew K. Rose |
| Abstract: | If one ranks cities by population, the rank of a city is inversely related to its size, a well-documented phenomenon known as Zipf's Law. Further, the growth rate of a city's population is uncorrelated with its size, another well-known characteristic known as Gibrat's Law. In this paper, I show that both characteristics are true of countries as well as cities; the size distributions of cities and countries are similar. But theories that explain the size-distribution of cities do not obviously apply in explaining the size-distribution of countries. The similarity of city- and country-size distributions is an interesting riddle. |
| JEL: | F00 R12 |
| Date: | 2005–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:11762&r=ure |
| By: | Patrick Bayer (Economic Growth Center, Yale University); Stephen L. Ross (Economics Department, University of Connecticut); Giorgio Topa (Federal Reserve Bank of New York) |
| Abstract: | We use a novel dataset and research design to empirically detect the effect of social interactions among neighbors on labor market outcomes. Specifically, using Census data that characterize residential and employment locations down to the city block, we examine whether individuals residing in the same block are more likely to work together than those in nearby blocks. We find evidence of significant social interactions operating at the block level: residing on the same versus nearby blocks increases the probability of working together by over 33 percent. The results also indicate that this referral effect is stronger when individuals are similar in sociodemographic characteristics (e.g., both have children of similar ages) and when at least one individual is well attached to the labor market. These findings are robust across various specifications intended to address concerns related to sorting and reverse causation. Further, having determined the characteristics of a pair of individuals that lead to an especially strong referral effect, we provide evidence that the increased availability of neighborhood referrals has a significant impact on a wide range of labor market outcomes including employment and wages. |
| Keywords: | Neighborhood Effects, Job Referrals, Social Interactions, Social Interactions, Social Networks, Labor Supply |
| JEL: | J2 J3 J6 |
| URL: | http://d.repec.org/n?u=RePEc:egc:wpaper:927&r=ure |
| By: | Gianni De Fraja (University of York (UK) - Department of Economics; Centre for Economic Policy Research (CEPR)); Pedro Landeras (University of Cantabria - Department of Economics) |
| Abstract: | This paper studies the effects of incentive mechanisms and of the competitive environment on the interaction between schools and students, in a set-up where the students' educational attainment depends on their peer group, on their effort, and on the quality of the school's teaching. We show that increasing the power of the incentive scheme and the effectiveness of competition may have the counterintuitive effect of lowering the students' effort, with ambiguous effects on their attainment. In a simple dynamic set-up, where the reputation of the schools affects recruitment, we show that increased competition leads to segregation of pupils by ability. |
| Keywords: | Students effort, Schools quality, Peer-group effect, Incentives |
| JEL: | I20 H42 |
| Date: | 2004–02–18 |
| URL: | http://d.repec.org/n?u=RePEc:rtv:ceisrp:48&r=ure |
| By: | Michael D. Makowsky (Economics George Mason University) |
| Abstract: | This paper presents an agent-based model of urban crime, mortality, and exogenous population shocks. Agent decision making is built around a career maximization function, with life expectancy as the key independent variable. Individual rationality is bounded by locally held information, creating a strong delineation between an objective and subjective reality. The effects of population shocks are explored using the Crime and Mortality Simulation (CAMSIM), with effects demonstrated to persist across generations. The potential for social simulation as a tool for the integration of theory across multiple disciplines is explored. CAMSIM is available via the web for future research by modelers and other social scientists. |
| Keywords: | Agent-based modeling, urban geography, crime |
| JEL: | J24 K42 R0 |
| Date: | 2005–11–11 |
| URL: | http://d.repec.org/n?u=RePEc:sce:scecf5:91&r=ure |
| By: | Holmlund, Helena (Swedish Institute for Social Research, Stockholm University); Sund, Krister (Swedish Institute for Social Research, Stockholm University) |
| Abstract: | Girls outperform boys in school. We investigate whether the gender performance gap can be attributed to the fact that the teacher profession is female dominated, that is, is there a causal effect on student outcomes from having a same-sex teacher? Using data on uppersecondary school students and their teachers from the municipality of Stockholm, Sweden, we find that the gender performance differential is larger in subjects where the share of female teachers is higher. We argue, however, that this effect can not be interpreted as causal, mainly due to teacher selection into different subjects and nonrandom student-teacher matching. Exploring the fact that teacher turnover and student mobility give rise to variation in teacher’s gender within student and subject, we estimate the effect on student outcomes of changing to a teacher of the same sex. We find no strong support for our initial hypothesis that a same-sex teacher improves student outcomes. |
| Keywords: | - |
| Date: | 2005–11–04 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:sofiwp:2005_005&r=ure |
| By: | Matthew Chambers (Economics Towson University); Carlos Garriga |
| Abstract: | After 40 years of stability, the homeownership rate -- a target for housing policy -- has steadily increased since 1995. We attempt to understand this increase using a quantitative model to evaluate various suggested explanations. We find that the increase can be explained by mortgage-market innovations that have reduced initial downpayments |
| JEL: | E E2 |
| Date: | 2005–11–11 |
| URL: | http://d.repec.org/n?u=RePEc:sce:scecf5:304&r=ure |
| By: | Paul E. Carrillo (Economics University of Virginia) |
| Abstract: | The last decade has witnessed an explosive growth in the use of the internet. Not only the number of users has dramatically increased, but also the amount and quality of the information displayed online has improved. The information available to web users is limited mostly by technological constraints and will be significantly less restrictive in the next decade. These technological changes foreseen for the future should affect buyer's and seller's behavior in many electronic markets (e-markets). One can think of two elements that determine the importance of e-markets: a) the number of consumers who have internet access, and b) the amount and quality of the information that internet marketplaces provide to consumers. Clearly, changes in each of these elements should affect the e-markets differently, and we are not aware of any previous study that has attempted to separate these effects. In our research paper, we attempt to explain how improvements in the information technology affect buyer's and seller's behavior in online markets. We focus our attention on the Real Estate Market (REM) for several reasons. First, housing units, in the majority of cases, are advertised through the internet. Second, buyers incur remarkable high offline search costs in the REM. Third, online housing sites have notably improved the amount of information they display by incorporating pictures and virtual tours to the existing Multiple Listing Services, and important improvements are forecasted for the near future. Finally, the housing market is one of the largest and most important in the US economy. We specify and estimate an equilibrium two-sided search model that depicts many of the REM’s real-life features. The theoretical model modifies the framework of existing equilibrium search models in the labor literature to capture the unique nature of the REM. To our knowledge, it is the first attempt in the literature to model in an equilibrium context five very important characteristics of the REM: a) buyers' and sellers' search behavior, b) heterogeneity in agents' motivation to trade, c) transaction costs, d) a trading mechanism with posting prices and bargaining, and e) the availability of an online advertising technology. To estimate our theoretical model, we follow the growing literature on estimation of equilibrium search models and use maximum likelihood methods. The data used for estimation consists of Multiple Listing Services data for real estate transactions in Charlottesville City and Albemarle County (VA) during the years 2000 through 2002. Our estimates suggest that only 3% of the relevant information that home-buyers collect before making a purchase decision is obtained through on-line ads. Furthermore, we use the estimated model to conduct counterfactual experiments and find that, improvements in online information displayed by Real Estate ads decrease equilibrium prices but increase the time that a property stays on the market. |
| JEL: | C51 D58 D80 D83 |
| Date: | 2005–11–11 |
| URL: | http://d.repec.org/n?u=RePEc:sce:scecf5:307&r=ure |
| By: | Zhao Chen (China Center for Economic Studies, Fudan University,); Yu Jin (China Center for Economic Studies, Fudan University,); Ming Lu (Dep. of Economics, Employment & Social Security Research Center, & China Center for Economic Studies, Fudan University,) |
| Abstract: | This paper explores the causes of industrial agglomeration in China using the provincial panel data during 1987-2001, focusing on the effects of economic opening. The determinants of industrial agglomeration are tested by controlling three types of factors, those of economic policies, economic geography and new economic geography, respectively. In summary, we find: (1) Economic opening, which is also related with geography and history encourages industrial agglomeration; (2) Large market size, effects of forward and backward linkage, high level of urbanization, better infrastructure and less involvement of local government tend to facilitate industrial concentration; (3) Costal regions have geographical advantage in attracting firms. These findings not only support the new economic geography theory from evidence within China, but also emphasize the important role that policies like economic opening might directly play in industrial agglomeration. The most important policy implication of this paper is that by quickening up the step of integrating into world economy and deregulating, even those less developed regions might accelerate industrial agglomeration and thus decrease regional disparity. |
| JEL: | L |
| Date: | 2005–11–16 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpio:0511012&r=ure |
| By: | Spyros Konstantopoulos (Northwestern University and IZA Bonn); Amelie Constant (IZA Bonn) |
| Abstract: | This study examines the gender gap in wages of young adults in the late 1970s, mid 1980s, and 2000, in the middle and the tails of the wage distribution using quantile regression. We also examine the importance of school quality indicators in predicting future labor market performance. We conduct analyses for three major racial groups in the US: Whites, Blacks, and Hispanics. We employ base year and follow up data from two rich longitudinal studies: the National Longitudinal Study (NLS) of high school seniors in 1972 and the National Education Longitudinal Study (NELS) of eighth graders in 1988. Our results indicate that school quality is an important predictor of and positively associated to future wages for Whites, but it is less so for the two minority groups. We confirm significant gender disparities in wages favoring men across three surveys in the 1970s, 1980s, and 2000 that are unaccounted for. While the unexplained gender gap is evident across the entire wage distribution, it is more pronounced for Whites and less pronounced for Blacks and Hispanics. Overall, the gender gap in wages is more pronounced in higher paid jobs (top 10 percent) for all groups, indicating the presence of a n alarming "glass ceiling." |
| Keywords: | wages, gender differences, school quality, school effects, quantile regression |
| JEL: | J16 J24 J31 |
| Date: | 2005–11 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp1830&r=ure |
| By: | Johannes Rincke (Zentrum für Europäische Wirtschaftsforschung) |
| Abstract: | Before making difficult decisions, individuals tend to collect information on decision makers in reference groups. With respect to policy innovations in a decentralized public sector, this may give rise to positive neighborhood influence on adoption decisions. On the other hand, due to learning externalities, an incentive exists to free-ride on policy experiments of others. In this paper, U.S. data on school district policies are used to show that with respect to policy experiments, decision makers indeed are heavily affected by decision makers in reference groups. The results suggest that if a given district's neighbors' expected benefits from adopting a new policy increase, this substantially increases the original district's probability of adoption. The paper thus rejects the free-riding hypothesis and supports the view that in federal systems the discusion of policy innovations is stimulated by horizontal interactions between jurisdictions. |
| JEL: | D6 D7 H |
| Date: | 2005–11–16 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwppe:0511009&r=ure |
| By: | Werner Güth (Max Planck Institute for Research into Economic Systems); Vittoria Levati (Max Planck Institute for Research into Economic Systems); Rupert Saugruber (University of Innsbruck) |
| Abstract: | We consider an economy composed of two regions. Each of them provides a public good whose benefits reach beyond local boundaries. In case of decentralization, taxes collected by members of a region are spent only on that region's public good. In case of centralization, tax receipts from the two regions are pooled and used to finance both public goods according to the population size of each region. The experiment shows that centralization induces lower tax morale and less efficient outcomes. The reasons are that centralization gives rise to an interregional incentive problem and creates inequalities in income between regions. |
| Keywords: | Tax morale; Fiscal federalism; Public goods experiments |
| JEL: | C91 H26 H41 H70 |
| Date: | 2005–11–17 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwppe:0511014&r=ure |
| By: | Marco Cozzi (Economics University College London and UPENN) |
| Abstract: | This paper develops a dynamic general equilibrium model to identify the impact of worse labour market conditions on the property crimes involvement of black American males. The related empirical evidence unambiguously shows higher participation in crime for black than for white males. In 1996, for example, the property crimes arrest rate by race (per 1.000 people) was equal to 6,43 for Whites and 18,3 for Blacks. Another set of stylised facts show for the same racial group worse labour market performances, with the African Americans supplying less hours of labour, gaining lower wages, experiencing both higher unemployment duration and rates. The theoretical model exploits the latter source of information to quantitatively assess the differences in crime induced by the different labour market outcomes. An infinitely lived agents model is developed, allowing for agents to be heterogeneous along four dimensions: race (synthesised by the labour market opportunities), education, employment status and asset holdings. The model is calibrated relying on US data and solved numerically. Preliminary results show that the observed labour market outcomes fully account for the substantial differences in the crime behaviours of the two racial groups. The model is in turn used both to understand to what extent the patterns in the race wage differentials can explain the observed decrease in the black labour supply and to compare some policy experiments aimed at reducing the aggregate crime rate |
| Keywords: | Property crimes, Race, Unemployment, Wealth Inequality. |
| JEL: | K42 D58 D99 J15 |
| Date: | 2005–11–11 |
| URL: | http://d.repec.org/n?u=RePEc:sce:scecf5:339&r=ure |
| By: | Sikandar Hussain; M. Shahid Ebrahim |
| Abstract: | This paper investigates the impact of financial development on property valuation in a rational expectations framework by modeling the agency theoretic perspective of risk averse investors (property owners) and financiers (banks/ capital markets). In contrast to previous research, we consider a setting in which financiers possess no inherent information processing or monitoring advantages. We demonstrate that property financing is undertaken in a pecking order of increasing pareto-efficiency (with reduction in its overall costs and a subsequent increase in the value of the underlying collateral) in a three staged process as financial architecture advances from a partially liberalized bank to the developed stage of capital markets. The primary solution is obtained in the rudimentary stage of commercial banks (in a specialized banking system), where the default-free mortgages are pareto-optimal to defaulting mortgages in accordance with the prognosis of Scott (1976) and Stulz and Johnson (1985). A pareto-improvement of the first solution is obtained by removing the restriction on ownership of property for financiers such as universal banks and pension funds, insurance companies, etc. This solution resolves the real estate version of the asset location puzzle (see Geltner and Miller, 2001). A further pareto-enhancement of this equilibrium is obtained under financial innovation by embedding the above default-free mortgage with options (in the form of a participating mortgage) in accordance with the prognosis of Green (1984), Haugen and Senbet (1981, 1987) and Schnabel (1993). Our results yield implications for financial system development. Our analysis predicts that an optimal financial system will configure itself skewed towards capital markets irrespective of the source of its origination (from specialized banking system or universal banking system). We also rationalize the co-existence of banks and financial markets in a well-developed financial system |
| Keywords: | Financial Deepening; Financial Innovation; Financial Liberalization; Pareto-optimal Mortgage Design; Risk Management. |
| JEL: | D58 G12 G2 G32 |
| Date: | 2005–11–11 |
| URL: | http://d.repec.org/n?u=RePEc:sce:scecf5:24&r=ure |
| By: | Mary Burke; Gary Fournier |
| Abstract: | We develop an explanation of the emergence of local norms, and the associated phenom- enon of geographical variation in behavior. Individuals are assumed to interact locally with neighbors in an environment with a network externality. Although many patterns of behavior are possible, the dispersed interactive choices of agents are shown to select behavior that is locally uniform but globally diverse. The range of applications of the theory includes regional variation in the practice of medicine, technology choice, and corruption. The framework is also useful for further developing our understanding of important phenomena like lock-in, critical thresholds, and contagion |
| Keywords: | Social norms, networks, geographical variation |
| JEL: | C73 |
| Date: | 2005–11–11 |
| URL: | http://d.repec.org/n?u=RePEc:sce:scecf5:299&r=ure |
| By: | Ennio Bilancini; Simone D'Alessandro |
| Abstract: | This paper investigates how the distribution of land property rights affects industrial take-off and aggregate income through the demand side. We study a stylized two sectors economy where the manufacturing sector is assumed to be constituted by a continuum of small markets producing distinct commodities. Following Murphy et al. [24] we model industrialization as the introduction of an increasing returns technology in place of a constant returns one. However, we depart from their framework by assuming income to be distributed according to functional groups’ membership (landowners, capitalists, workers). We carry out an equilibrium analysis for different levels of land ownership concentration proving that, under the specified conditions, there is a non-monotonic relation between the distribution of land property rights and both industrialization and income. We clarify that non-monotonicity arises because of the way land ownership concentration affects the level and the distribution of profits among capitalists. Our results suggest that i) both a too concentrated and a too diffused distribution of land property rights can be detrimental to industrialization, ii) landownership affects the economic performance of an industrializing country by determining industrial profits and iii) in terms of optimal land distribution there may be a tradeoff between income and industrialization. |
| JEL: | D33 O14 Q15 |
| Date: | 2005–10 |
| URL: | http://d.repec.org/n?u=RePEc:usi:wpaper:467&r=ure |
| By: | Silvia Gorenstein (UNSUR); Raul Dichiara (UNSUR); Gustavo Burachik (UNSUR); Andrea Castellano (UNSUR); Federico Castellano (UNSUR) |
| Abstract: | We study post entry performance of manufactuirng firms in 3 municipalities of Buenos Aires province, borned between 1990 and 1999. The aim of the paper is to identify main factors explaining firm growth. The focus is directed to endogenous determinants of firm performance, individual or local as well, taking into account the growing interest those elements are receiving in recent literature about local development. The results show that firm tradability grade is the key variable explaining performance. This factor is strongly influenced by entrepreneur´s profile but also by macroeconomic context. |
| Keywords: | local development, new firms, firm performance, tradability |
| JEL: | L |
| Date: | 2005–11–15 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpio:0511009&r=ure |
| By: | Tomomi Tanaka (California Institute of Technology) |
| Abstract: | This paper compares the performance of direct negotiation, double auction, and a two-sided combinatorial call market for consolidating fragmented land. Experimental results suggest direct negotiation produces higher efficiencies than other mechanisms when 1) all commodities need to be traded to achieve efficiency, and 2) subjects are well exposed to various experimental formats. The combinatorial call market performs well when 1) swapping is easily agreeable, and 2) the number of subjects and commodities are increased and the initial endowments are unchallenging. The two-sided combinatorial call market suffers from the holdout problem when the number of subjects and commodities is small. |
| Keywords: | Mechanism design, Two-sided combinatorial auction, Holdout |
| JEL: | C9 |
| Date: | 2005–11–16 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpex:0511004&r=ure |
| By: | Granér, Staffan (Department of Economic History, School of Economics and Commercial Law, Göteborg University) |
| Abstract: | This paper focuses on the development of property rights to village com-mons, as they appear in the court rolls of a legal district in Sweden in the late 17th and the early 18th century. A development of agrarian property rights, from comparably attenuated towards more exclusive and private ones, has been considered one of the most important and crucial aspects of economic modernisation. To explain and analyse this development two, not necessarily incompatible, theoretical approaches can be identified. The neo-institutional property rights approach focuses on economising behav-iour among individual agents in relation to factors such as enforcement and transaction costs, relative prices, market integration and contracts. A more sociological, or class based, property relations approach focuses on factors such as power structure, distribu-tion, exploitation and social networks. In this area the regulation and privatisation of access to commonly controlled woodlands and pastures plays an important role. Immi-gration, population growth, colonisation, and a rapid establishment of iron mills in the 1690’s, contributed to a commercialisation of economic relations, and to an increased scarcity of commonly managed resources such as wood, charcoal and waterpower. This put considerable strain on traditional local conceptions of rights. A significant part of the legal cases reflects disputes over rights to village commons and the resources that they contain. The long-run result of this process could be described as a kind of enclosure where communal and socially embedded rights were gradually redefined. <p> |
| Keywords: | Economic History; Sweden; Property Rights; Common Rights; Institutional Change; Enclosure; Forest History |
| JEL: | K11 N23 N43 N53 Q15 |
| Date: | 2005–11–08 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:gunhis:0003&r=ure |
| By: | Giuseppe Tattara (University of Venice, Dept economics); Marco Valentini (University of Venice, Dept statistics) |
| Abstract: | This research exploits a large employer-level panel dataset in order to analyse employment and worker flows for all establishments in a highly industrialized region in the North- East of Italy, the Veneto. Our results have relevance for models of job creation, job destruction and labour excess reallocation. The relation between separations from and accessions to existing jobs and between worker flows and job flows is scrutinized. Excess reallocation, the difference between worker flows and job flows at the plant level, is substantial. Mortality for new job matches is quite high and many new accessions are mismatched and lead to separations. Worker flows are very high for young workers to reduce drastically for workers after 35 years of age. The time series behaviour of worker flows and job excess reallocation from 1982 to 1996 is examined; worker level heterogeneity and employer level heterogeneity are discussed in determining the cyclical pattern of such flows and their rapid increment in more recent years. On this the paper makes progress in respect to the previous literature where turnover and excess reallocation are examined mainly in a static framework. |
| Keywords: | Regional Labour Markets; Job Flows; Worker Flows; Reallocation; Matched employer-employee panel data. |
| JEL: | R23 J21 J44 |
| Date: | 2005–11–17 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpla:0511013&r=ure |
| By: | Sarbajit Chaudhuri (Dept. of Economics, Calcutta University) |
| Abstract: | The present paper makes an attempt to examine theoretically the impact of emigration of skilled labour from developing countries on the level of welfare of the non-migrants and the level of urban unemployment of unskilled labour in a three sector Harris-Todaro model. The analysis suggests that in a reasonable production structure for a developing economy a brain drain of skilled labour raises urban unemployment of unskilled labour. The paper also shows that an emigration of skilled labour may raise the welfare of the non-migrants in a tariff-distorted economy if it imports the specialized manufacturing product or the labour-intensive good. However, if the economy imports the traditional manufacturing product, the welfare of the non-emigrating workers is likely to deteriorate. |
| Keywords: | Emigration of skilled labour; unskilled labour; Harris-Todaro framework; welfare of the non-migrants; urban unemployment |
| JEL: | F2 F F22 J64 |
| Date: | 2005–11–11 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpit:0511007&r=ure |