It is recognised that migration can, under certain conditions, generate important net gains for the migrants’ home countries. These gains may be in terms of growth, poverty reduction, insurance against risk and accumulation of human capital. Moreover migration may interact in various and...

The central hypothesis of this paper is that both the extent and speed of adjustment of the real exchange rate is affected by the way the central bank manages the nominal exchange rate. Specifically, a large discrete adjustment of the nominal exchange rate is more likely to result in fast...