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Workers’ remittances have become the second largest source of net financial flows to developing countries. However, the … main motives for sending remittances remain controversial. This paper examines the importance of altruistic versus … investment motive. Finally, migrants’ skills raise remittances, while a large informal economy in the sending country depresses …
Persistent link: https://www.econbiz.de/10011604734
habits: migrants who regularly use internet banking for other purposes are more likely to use bank services for remittances …
Persistent link: https://www.econbiz.de/10013054673
Workers' remittances have become the second largest source of net financial flows to developing countries. However, the … main motives for sending remittances remain controversial. This paper examines the importance of altruistic versus … investment motive. Finally, migrants' skills raise remittances, while a large informal economy in the sending country depresses …
Persistent link: https://www.econbiz.de/10013317412
Recent fiscal policies have aimed to stimulate household spending. In 2008, most households received one-time economic stimulus payments. In 2009, most working households received the Making Work Pay tax credit in the form of reduced withholding; other households, mainly retirees, received...
Persistent link: https://www.econbiz.de/10013130153
Economic theory predicts that the consumption path of unconstrained homeowners responds to the interest rate, while the consumption path of credit constrained homeowners is determined by the size and timing of payments (mortgage maturity). We exploit the rapid expansion of mortgage markets...
Persistent link: https://www.econbiz.de/10013130154
This paper studies the wealth channel in China. Using the structural vector autoregression method, we find that a loosening of China's monetary policy indeed leads to higher asset prices, which in turn are linked to household consumption. However, the importance of the wealth channel as a part...
Persistent link: https://www.econbiz.de/10013138816
sentiment and consumption expenditures for the United States and the euro area. It shows under which circumstances confidence …. In particular, out-of-sample evidence shows that the contribution of confidence in explaining consumption expenditures …
Persistent link: https://www.econbiz.de/10013124648
I propose a life-cycle model where a finitely lived risk averse agent finances her housing investment choosing to provide a down payment. After signing the mortgage contract, the agent may strategically default and move into the rental market. Risk neutral lenders efficiently price mortgages...
Persistent link: https://www.econbiz.de/10013104146
stable" equilibrium nominal interest rate with matching definitions for inflation and monetary growth. We demonstrate that …
Persistent link: https://www.econbiz.de/10013104606
This paper uses Eurobarometer survey data from 26 EU countries to evaluate whether the general public cares about financial stability and imbalances over and above their effects on key macroeconomic variables such as unemployment and inflation. I confirm previous results in the literature that...
Persistent link: https://www.econbiz.de/10013083029