Showing 1 - 10 of 429
We identify whether remittances facilitate consumption smoothing during health shocks in Jamaica. In addition, we … investigate whether remittances are subject to moral hazard by receivers, how the informal insurance provided by remittances … remittances offer complete insurance toward decreased consumption during health shocks and that moral hazard is weak. The role of …
Persistent link: https://www.econbiz.de/10011286680
Persistent link: https://www.econbiz.de/10012426848
Remittances constitute a significant safety net for millions of households in Latin America and the Caribbean (LAC … of remittances. The recovery of remittances was accompanied by a modest and temporary increase in the interest in digital …
Persistent link: https://www.econbiz.de/10014516599
Persistent link: https://www.econbiz.de/10014296436
This paper argues that the Phillips curve relationship is not sufficient to trace back the output gap, because the effect of excess demand is not symmetric across tradeable and non-tradeable sectors. In the non-tradeable sector, excess demand creates excess employment and inflation via the...
Persistent link: https://www.econbiz.de/10011350659
Persistent link: https://www.econbiz.de/10011414066
I study the firm-level dynamic response of a commodity-exporting economy to global cycles in commodity prices. To do so, I develop a heterogeneous-firms model that endogenizes declines in aggregate productivity through reallocation towards less productive firms. Within a given sector, commodity...
Persistent link: https://www.econbiz.de/10012586244
Singapore's unique monetary policy consists of a managed exchange rate framework that can be characterized as a Taylor-like reaction function with the nominal devaluation rate instead of the nominal interest rate as the main policy instrument. We build a small open economy New Keynesian model to...
Persistent link: https://www.econbiz.de/10014537384
We study the welfare and macroeconomic implications of simple and implementable fiscal policy rules in commodity-dependent economies, where a large share of output, exports, and government revenues depend on exogenous and volatile commodity prices. Using a multi-sector New Keynesian model...
Persistent link: https://www.econbiz.de/10014550828
Persistent link: https://www.econbiz.de/10003103911