to financial markets and test whether remittances are countercyclical and serve as an insurance mechanism against … secular increase in the trend growth of remittances and random cyclical fluctuations around this trend. In a purely … households facing an increasing trend for remittances. A flexible floating regime is preferred when unanticipated shocks driving …

to financial markets and test whether remittances are countercyclical and serve as an insurance mechanism against … secular increase in the trend growth of remittances and random cyclical fluctuations around this trend. In a purely … households facing an increasing trend for remittances. A flexible floating regime is preferred when unanticipated shocks driving …

that remittances dampen the business cycles in Mexico, whereas they amplify the cycles in Turkey. Their quantitative … effects in the long run, approximated by the stochastic steady state are mild. In the short run, however, remittances have … adjust their precautionary wealth to sudden tightening in credit, hence, fluctuations in remittances get magnified through an …