... Conflict Urban areas P1. If there is no restriction on migration, the equilibrium number of rural‐to‐urban immigrants m_t will increase with the urban capital stock K_t. Despite the perfectly competitive urban labor market...

... residents whose income and preference parameters satisfy this condition: Equation 7 are worse off by participating. Because the deductible and premium levels of NCMS are universal to all participants, people with extremely low income may opt not to participate. Similarly in urban areas, some low‐income...