Rural Pensions, Labor Reallocation, and Aggregate Income: An Empirical and Quantitative Analysis of China
农村养老金、劳动力再配置与总收入：中国的实证和量化分析
We exploit the implementation of a rural pension policy in China to estimate the average rural‐to‐urban migration cost for workers affected by the policy and the average underlying sectoral productivity difference. Our estimates, based on a large panel data set, reveal significant migration costs and substantial sectoral productivity differences, with sorting playing a minor role in accounting for sectoral labor income gaps. We construct and structurally estimate a general…