International Migration and "Educated Unemployment"
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This paper provides a novel explanation of "educated unemployment," which is a salient
feature of the labor markets in a number of developing countries. In a simple job-search
framework we show that "educated unemployment" is caused by the perspective of international migration, that is, by the possibility of a "brain drain." In addition, the analysis shows that a developing country may end up with more educated workers despite the brain drain and educated unemployment.