That remittances are a stable source of external finance seems to have become the received wisdom. In addition, many … studies have found remittances to behave counter-cyclically, increasing during crises and times of hardship for the recipient … countries. Are remittances reliable macroeconomic stabilizers? To answer this question, the present study examines the stability …

remittances to Pakistan and their economic impacts on the recipient households’ consumption and asset accumulation patterns. We … find that international remittances are a stable and stabilizing source of foreign exchange compared with other financial …