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Networks and Misallocation: Insurance, Migration, and the Rural-Urban Wage Gap

Munshi, Kaivan ; Rosenzweig, Mark

The American economic review, 2016-01, Vol.106 (1), p.46-98 [Periódico revisado por pares]

Nashville: American Economic Association

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Título:
Networks and Misallocation: Insurance, Migration, and the Rural-Urban Wage Gap
Autor: Munshi, Kaivan ; Rosenzweig, Mark
Assuntos: Careers ; Caste ; Consumption ; Development economics ; Economic development ; Economic theory ; Gender differences ; Households ; Income ; Insurance coverage ; Insurance policies ; International ; Males ; Migration ; Personal finance ; Political economy ; Productivity ; Risk sharing ; Rural areas ; Studies ; Urban areas ; Wages & salaries ; Wealth management
É parte de: The American economic review, 2016-01, Vol.106 (1), p.46-98
Notas: ObjectType-Article-1
SourceType-Scholarly Journals-1
ObjectType-Feature-2
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Descrição: We provide an explanation for the large spatial wage disparities and low male migration in India based on the trade-off between consumption smoothing, provided by caste-based rural insurance networks, and the income gains from migration. Our theory generates two key empirically verified predictions: (i) males in relatively wealthy households within a caste who benefit less from the redistributive (surplus-maximizing) network will be more likely to migrate, and (ii) males in households facing greater rural income risk (who benefit more from the insurance network) migrate less. Structural estimates show that small improvements in formal insurance decrease the spatial misallocation of labor by substantially increasing migration.
Editor: Nashville: American Economic Association
Idioma: Inglês

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Networks and Misallocation: Insurance, Migration, and the Rural-Urban Wage Gap

Munshi, Kaivan ; Rosenzweig, Mark

Nashville: American Economic Association

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