Optimal migration: A world perspective

Jess Benhabib, Boyan Jovanovic

    Research output: Contribution to journalArticle

    Abstract

    We ask what level of migration would maximize world welfare. Welfare is assumed to be a weighted average of the utilities of the world's various citizens, but the weights are also country specific. Using a calibrated one-sector model, we find that unless the weights are heavily biased toward the natives of rich countries, the extent of migration that would be optimal far exceeds the levels observed today. The claim remains true in a two-sector extension of the model. All versions of the model assume that migration is the only redistributive tool.

    Original languageEnglish (US)
    Pages (from-to)321-348
    Number of pages28
    JournalInternational Economic Review
    Volume53
    Issue number2
    DOIs
    StatePublished - May 2012

    ASJC Scopus subject areas

    • Economics and Econometrics

    Cite this

    Optimal migration : A world perspective. / Benhabib, Jess; Jovanovic, Boyan.

    In: International Economic Review, Vol. 53, No. 2, 05.2012, p. 321-348.

    Research output: Contribution to journalArticle

    Benhabib, Jess ; Jovanovic, Boyan. / Optimal migration : A world perspective. In: International Economic Review. 2012 ; Vol. 53, No. 2. pp. 321-348.
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