Based on the experience of the Bank of Albania, the paper proposes a framework toestimate the interest rate lower bound …

is derived from the experience of Albania. The paperis the first attempt to provide an empirical measure of the optimal … level of euroization.The results indicate that euroization is trending above the estimated measure in Albania,calling for …

-recipient countries and the rest of the world. Using both aggregate and bilateral remittances data in a panel data setting, the study … analysis suggests that measures of openness and spillovers could be enhanced by accounting for the role of the remittances …

This paper identifies a remittances channel that transmits exogenous shocks, such as business cycles in remittance … Middle East, North Africa, and Central Asia, three types of results emerge. First, remittances appear to be strongly … procyclical vis-Ã-vis sending country income. Second, remittances tend to be spent on consumption of both imported and …

estimates a gravity model for workers' remittances. We find that most of the variation in bilateral remittance flows can be … commonly believed. Most strikingly, remittances do not seem to increase in the wake of a natural disaster and appear aligned … with the business cycle in the home country, suggesting that remittances may not play a major role in limiting …

This paper estimates the effect of grants and workers' remittances on Jordan's long-term equilibrium real exchange rate … the period 1964 to 2005. Controlling for other fundamentals, we find that both grants and workers' remittances appreciate …

Family remittances are important for El Salvador's economy. This paper analyzes the impact of remittances on El … formulated, consisting of real and monetary variables. The results suggest that in, El Salvador, remittances lead to decreases in …. This underscores the need for reorienting economic policy in El Salvador to promote the use of remittances in capital …

This paper adds international migration and remittances into the IMF's Flexible System of Global Models (FSGM). FSGM is … dynamics of major remitter regions is proposed. The dynamics of remittances and migration in FSGM are calibrated to be …