This note develops the solutions of the static portfolio optimization problem in explicit matrix form. Three cases are contemplated and connected, with the derivation of relevant corner solutions: the unconstrained problem in the presence of risky assets only, the constrained one, and the...

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In the standard Harris-Todaro framework, migration flows arise as disequilibrium driven movements of the population. It is the purpose of this research to modify the simple dualistic model in order to account for the existence of permanent migrants, i.e., of individuals who work in another...