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| Author: | Bencivenga, V. Smith, B. |
| Title: | Unemployment, migration, and growth |
| Journal: | Journal of Political Economy
1997 : JUN, VOL. 105:3, p. 582-608 |
| Index terms: | POLITICAL ECONOMY UNEMPLOYMENT MIGRATION |
| Language: | eng |
| Abstract: | Economic development is typically accompanied by migration from rural to urban employment. This migration is often associated with significant urban underemployment. Both factors are important in the development process. The authors consider a neoclassical growth model with rural urban migration and urban underemployment which arises from an adverse selection problem in labour markets. The authors demonstrate that rural-urban migration and underemployment can be a source of development traps and can give rise to a large set of periodic equilibria displaying undamped oscillation. |
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