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Emigration and Brain Drain; Evidence From the Caribbean

Mishra, Prachi - International Monetary Fund (IMF) - 2006

This paper quantifies the magnitude and nature of migration flows from the Caribbean and estimates their costs and … migration rates are particularly striking for the highskilled. Many countries have lost more than 70 percent of their labor … in 2002. Simple welfare calculations suggest that the losses due to high-skill migration (ceteris paribus) outweigh the …

Persistent link: https://www.econbiz.de/10005248304

Emigration and Wages in Source Countries; Evidence From Mexico

Mishra, Prachi - International Monetary Fund (IMF) - 2006

This paper empirically examines the effect on wages in Mexico of Mexican emigration to the United States, using data from the Mexican and United States censuses from 1970-2000. The main result in the paper is that emigration has a strong and positive effect on Mexican wages. There is also...

Persistent link: https://www.econbiz.de/10005605072

A Theory of Optimum Currency Areas: Revisited

Flood, Robert P.; Aizenman, Joshua - International Monetary Fund (IMF) - 1992

Starting with Friedman and Mundell the academic literature has conducted a high level debate concerning the design of cross-country monetary arrangements. That debate has become very complex and the data requirements necessary for appropriate application of the principles developed are far...

Persistent link: https://www.econbiz.de/10005605314

Exchange Rates and Wages in an Integrated World

Spilimbergo, Antonio; Mishra, Prachi - International Monetary Fund (IMF) - 2009

We analyze how the pass-through from exchange rate to domestic wages depends on the degree of integration between domestic and foreign labor markets. Using data from 66 countries over the period 1981â€“2005, we find that the elasticity of domestic wages to real exchange rate is 0.1 after a...

Persistent link: https://www.econbiz.de/10005826292

Do Workers' Remittances Promote Economic Growth?

Gapen, Michael T.; Chami, Ralph; Montiel, Peter; … - International Monetary Fund (IMF) - 2009

Over the past decades, workers' remittances have grown to become one of the largest sources of financial flows to developing countries, often dwarfing other widely-studied sources such as private capital and official aid flows. While it is undeniable that remittances have poverty-alleviating and...

Persistent link: https://www.econbiz.de/10008528660

Remittances; An Automatic Output Stabilizer?

Hakura, Dalia; Chami, Ralph; Montiel, Peter - International Monetary Fund (IMF) - 2009

Remittance flows appear to be falling worldwide for the first time in decades as a result of the ongoing financial turmoil. It is suspected that the drop in remittance income into developing and emerging markets will have a destabilizing effect on these economies. The paper estimates the impact...

Persistent link: https://www.econbiz.de/10004999978

Remittances and Institutions; Are Remittances a Curse?

Dagher, Jihad; Chami, Ralph; Montiel, Peter; Abdih, Yasser - International Monetary Fund (IMF) - 2008

This paper addresses the complex and overlooked relationship between the receipt of workers' remittances and institutional quality in the recipient country. Using a simple model, we show how an increase in remittance inflows can lead to deterioration of institutional quality - specifically, to...

Persistent link: https://www.econbiz.de/10005599273

Macroeconomic Consequences of Remittances

Fullenkamp, Connel; Cosimano, Thomas F.; Gapen, Michael T. - International Monetary Fund (IMF) - 2008

Given the large size of aggregate remittance flows (billions of dollars annually), they should be expected to have significant macroeconomic effects on the economies that receive them. This paper directly addresses the two main issues of interest to policymakers with regard to remittances--how...

Persistent link: https://www.econbiz.de/10010790498

Workers' Remittances and the Equilibrium Real Exchange Rate; Theory and Evidence

Chami, Ralph; Barajas, Adolfo; Montiel, Peter; Hakura, Dalia - International Monetary Fund (IMF) - 2010

This paper investigates the impact of workersâ€™ remittances on equilibrium real exchange rates (ERER) in recipient economies. Using a small open economy model, it shows that standard "Dutch Disease" results of appreciation are substantially weakened or even overturned depending on: degree...

Persistent link: https://www.econbiz.de/10008777033