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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

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

Beware of Emigrants Bearing Gifts; Optimal Fiscal and Monetary Policy in the Presence of Remittances

Gapen, Michael T.; Cosimano, Thomas F.; Chami, Ralph - International Monetary Fund (IMF) - 2006

This paper uses a stochastic dynamic general equilibrium model to investigate the influence of countercyclical remittances on the conduct of fiscal and monetary policy and trace their effects on real and nominal variables in a business cycle setting. We show that remittances raise disposable...

Persistent link: https://www.econbiz.de/10005769249

The Global Financial Crisis and Workers' Remittances to Africa; What's the Damage?

Chami, Ralph; Barajas, Adolfo; Garg, Anjali; … - International Monetary Fund (IMF) - 2010

Using data on the distribution of migrants from Africa, GDP growth forecasts for host countries, and after estimating remittance multipliers in recipient countries, this paper estimates the impact of the global economic crisis on African GDP via the remittance channel during 2009-2010. It...

Persistent link: https://www.econbiz.de/10008519483

Fiscal Sustainability in Remittance-Dependent Economies

Chami, Ralph; Abdih, Yasser; Mati, Amine; Gapen, Michael T. - International Monetary Fund (IMF) - 2009

We investigate the impact of remittances on public debt sustainability and detail how the traditional debt-to-GDP ratio can be modified to create a more accurate representation of debt sustainability for a country that receives significant remittance inflows. The main result is that inclusion of...

Persistent link: https://www.econbiz.de/10008528636

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

Are Immigrant Remittance Flows a Source of Capital for Development

Jahjah, Samir; Chami, Ralph; Fullenkamp, Connel - International Monetary Fund (IMF) - 2003

The role of remittances in development and economic growth is not well understood. This is partly because the literatures on the causes and effects of remittances remain separate. We develop a framework that links the motivation for remittances with their effect on economic activity. Because...

Persistent link: https://www.econbiz.de/10005599738