This paper uses high frequency exchange rate data for a group of twelve Latin American countries to analyze volatility comovements. Particular interest is posed on understanding the existence of a common volatility process during the 1994–2005 period. The analysis relies on bivariate common...

This paper analyzes the impact of exchange rate levels and exchange rate uncertainty on U.S. foreign direct investment into Latin America. By decomposing exchange rate uncertainty into temporary (short-run) and permanent (long-run) components, we further explore whether the nature of uncertainty...

This article examines the determinants of remittance transfers, specifically focusing on the impact of crimes on remittances. Using the 2003 Quality of Life Survey of Colombia, we find that both domestic and international transfers are negatively affected by crime. That is, because crime may...

This article analyzes the relationship between remittances, exchange rates and money demand in Mexico. We find that shocks to remittances have a positive impact on domestic money demand. The results also suggest the existence of a bi-directional relationship between remittances and the exchange...

This article documents the business cycle properties of workers’ remittance flows to Mexico. We also discuss key differences between the cyclical properties of remittance inflows and the cyclical properties of foreign direct investment (FDI). We find evidence that remittances are...

This article examines the impact of monetary policy shocks on the U.S. housing market using an identification procedure similar to the one suggested by Uhlig (Journal of Monetary Economics, 2005). The identification procedure imposes sign restrictions on the response of some variables for a...

In this paper we discuss the functioning of the foreign exchange rate system. We start by giving a historical account of the different exchange rate systems around the world. Next, we discuss the determinants of a currency’s value according to the main theories of exchange rate determination....

This paper examines whether the presence of refugees alters the intra-household allocation of tasks across genders in the hosting population. Using panel data (pre- and post-refugee inflow) from Kagera, a rural region of Tanzania, we find that the refugee shock led to women being less likely to...

How does conflict, displacement, and return shape trust, reconciliation, and community engagement? And what is the relative impact of exposure to violence on these indicators? In this paper we explore these questions by focusing on the legacies of armed conflict and the differences between those...

The role of ethnic immigrant networks in facilitating international trade is a well-established phenomenon in the literature. However, it is less clear whether this relationship extends to illegal trade and unauthorized immigrants. In this paper, we tackle this question by focusing on the case...