Durdu, Ceyhun Bora; Sayan, Serdar - In: IMF Staff Papers 57 (2010) 2, pp. 303-325
This paper analyzes the implications of remittance fluctuations for various macroeconomic variables and sudden stops. The paper employs a quantitative two-sector model of a small open economy with financial frictions calibrated to Mexican and Turkish economies, two major recipients, whose...