Chen, Kong-Pin; Chiang, Shin-Hwan; Leung, Siu Fai - In: Journal of Labor Economics 21 (2003) 2, pp. 323-352
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...