Department of Economics
University of Warwick
Coventry, CV4 7AL
Institutional Affiliation: University of Warwick
NBER Working Papers and Publications
|March 2020||Migration Costs and Observational Returns to Migration in the Developing World|
with David Lagakos, Ahmed Mushfiq Mobarak, Corey Vernot, Michael E. Waugh: w26868
Recent studies find that observational returns to rural-urban migration are near zero in three developing countries. We revisit this result using panel tracking surveys from six countries, finding higher returns on average. We then interpret these returns in a multi-region Roy model with heterogeneity in migration costs. In the model, the observational return to migration confounds the urban premium and the individual benefits of migrants, and is not directly informative about the welfare gain from lowering migration costs. Patterns of regional heterogeneity in returns, and a comparison of experimental to observational returns, are consistent with the model’s predictions.
Published: David Lagakos & Samuel Marshall & Ahmed Mushfiq Mobarak & Corey Vernot & Michael E. Waugh, 2020. "Migration Costs and Observational Returns to Migration in the Developing World," Journal of Monetary Economics, .
|July 2010||The Risk of Out-of-Pocket Health Care Expenditure at End of Life|
with Kathleen M. McGarry, Jonathan S. Skinner: w16170
There is conflicting evidence on the importance of out-of-pocket medical expenditures as a risk to financial security, particularly at older ages. We revisit this question, focusing on health care spending near the end of life using data from the Health and Retirement Study for the years 1998-2006. We address difficulties with missing values for various categories of expenditures, outliers, and variations across individuals in the length of the reporting period. Spending in the last year of life is estimated to be $11,618 on average, with the 90th percentile equal to $29,335, the 95th percentile $49,907, and the 99th equal to $94,310. These spending measures represent a substantial fraction of liquid wealth for decedents. Total out-of-pocket expenditures are strongly positively relat...