@TechReport{iza:izadps:dp1903,
            	author={Poutvaara, Panu},
            	title={On Human Capital Formation with Exit Options: Comment and New Results},
            	year={2005},
	month={Dec},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={1903},
            	url={https://www.iza.org/publications/dp1903},
	abstract={Katz and Rapoport (2005) conclude that with linear production technology and the possibility of unilateral migration, region-specific shocks may increase the average level of education. Previously, Poutvaara (2000) derived a corresponding result with Cobb-Douglas technology and migration which may go in both directions. This paper shows that the exit option may reduce human capital formation with a quadratic production technology.},
	keywords={migration;human capital formation;economic volatility},
            }