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The Search Equilibrium Approach to Migration and Labor Market

Author

Listed:
  • Chuhwan Park

    (ETRI)

Abstract

This paper looks at the relation between migration and labor market parameters in search equilibrium model upon which a steady-state analysis can be based. We define and characterize the properties of steady-state equilibrium according to several conditions that we assume to be present in the process of migration from rural to urban sectors. The main implication of this study is the suggestion that, in the absence of urban-to-rural migration, the urban sector may have a higher unemployment rate with higher productivity differentials between urban and rural sectors. However, unemployment rates may drop for the urban sector as a result of increases in a firm's output level, which increases gross income along with a firm's entry cost.

Suggested Citation

  • Chuhwan Park, 2001. "The Search Equilibrium Approach to Migration and Labor Market," Korean Economic Review, Korean Economic Association, vol. 17, pages 81-98.
    • Handle: RePEc:kea:keappr:ker-200106-17-1-05
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    More about this item

    Keywords

    search equilibrium; migration; stochastic matching rate; symmetric Nash bargain;
    All these keywords.

    JEL classification:

    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers
    • R0 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General

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