The Welfare Effects of Encouraging Rural–Urban Migration
构建动态一般均衡模型，利用孟加拉国农村实地实验数据，发现迁移补贴的福利收益主要来自为脆弱农村家庭提供更好的保险，而非纠正空间错配。
This paper studies the welfare effects of encouraging rural–urban migration in the developing world. To do so, we build and analyze a dynamic general‐equilibrium model of migration that features a rich set of migration motives. We estimate the model to replicate the results of a field experiment that subsidized seasonal migration in rural Bangladesh, leading to significant increases in migration and consumption. We show that the welfare gains from migration subsidies come from providing better insurance for vulnerable rural households rather than from correcting spatial misallocation by relaxing credit constraints for those with high productivity in urban areas that are stuck in rural areas.