This paper provides a novel explanation of 'educated unemployment,' which is a salient feature of the labor markets in a number of developing countries. In a simple job-search framework we show that 'educated unemployment' is caused by the perspective of international migration, that is, by the...

A framework that yields different possible patterns of migration as optimal solutions to a simple utility maximization problem is presented and explored. It is shown that seasonal migration arises as an optimal endogenous response to a comparison of costs (of living and of separation) and...