Martins, Ana Paula - In: Journal of economics, finance & administrative science 20 (2015) 38, pp. 2-20
In this paper we present and confront the expected outcome of an increase in risk on the regional or sectoral … (Bhagwati-Hamada). Importance of convexity of local labor demands was invariably recognized. A localized increase in risk does … not always repel the labor force in the long-run. This statement would hold even if individuals were not risk-neutral, as …