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Migration, Family, and Risk Diversification

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  • Kong-Pin Chen

    (Academia Sinica and National Taiwan University)

  • Shin-Hwan Chiang

    (York University)

  • Siu Fai Leung

    (Hong Kong University of Science and Technology)

Abstract

This article 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. We show that migration can take place even when migrants earn less abroad and, surprisingly, when earnings in the foreign country are riskier for every member of the family. Moreover, it may well be an optimal arrangement to have only dependents migrate, thus rationalizing the recent dependent-oriented migration flows from places like Hong Kong and Taiwan. We provide some evidence in support of our theory.

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Bibliographic Info

Article provided by University of Chicago Press in its journal Journal of Labor Economics.

Volume (Year): 21 (2003)
Issue (Month): 2 (April)
Pages: 323-352

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Handle: RePEc:ucp:jlabec:v:21:y:2003:i:2:p:323-352

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  1. Stark, Oded & Levhari, David, 1982. "On Migration and Risk in LDCs," Economic Development and Cultural Change, University of Chicago Press, vol. 31(1), pages 191-96, October.
  2. Ghatak, Subrata & Levine, Paul & Price, Stephen Wheatley, 1996. " Migration Theories and Evidence: An Assessment," Journal of Economic Surveys, Wiley Blackwell, vol. 10(2), pages 159-98, June.
  3. Francesco Daveri & Riccardo Faini, . "Where do migrants go?," Working Papers 124, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
  4. Katz, Eliakim & Stark, Oded, 1986. "Labor Migration and Risk Aversion in Less Developed Countries," Journal of Labor Economics, University of Chicago Press, vol. 4(1), pages 134-49, January.
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Cited by:
  1. Tarbalouti, Essaid, 2008. "Investissement, protectionnisme et décision de migration internationale
    [Investment, protectionism and decision of international migration]
    ," MPRA Paper 56310, University Library of Munich, Germany.
  2. Maurice Kugler, . "Migrant Remittances, Human Capital Formation and Job Creation Externalities in Colombia," Borradores de Economia 370, Banco de la Republica de Colombia.
  3. Xavier Chojnicki & Ainura Uzagalieva, 2008. "Labor Migration from East to West in the Context of European Integration and Changing Socio-political Borders," CASE Network Studies and Analyses 0366, CASE-Center for Social and Economic Research.
  4. Nielsen, Helena Skyt & Svarer, Michael, 2006. "Educational Homogamy: Preferences or Opportunities?," IZA Discussion Papers 2271, Institute for the Study of Labor (IZA).
  5. Richter, Susan M., 2008. "The Insurance Role of Remittances on Household Credit Demand," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6261, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  6. Pylypchuk, Yuriy, 2009. "Effects of immigration on the health insurance status of natives," Journal of Health Economics, Elsevier, vol. 28(5), pages 1028-1037, September.
  7. Ahsan, S. Quamrul, 2007. "Temporary Migration, Labour Supply and Welfare," Working Papers in Economics 01/07, University of Bergen, Department of Economics.

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