Showing 71 - 80 of 161,037
This paper investigates the formalisation that in a small open economy flexible exchange rates act as a 'shock absorber' and mitigate the effects of external shocks more effectively. An intertemporal small open economy model with nominal rigidities, in which real shocks generate internal...
Persistent link: https://www.econbiz.de/10009524817
This paper analyzes the macroeconomic effects of fiscal and labor market policies in developing countries. The basic framework considers a small open economy with a large informal production sector and a heterogeneous work force. The labor market is segmented as a result of efficiency...
Persistent link: https://www.econbiz.de/10012781698
Financially closed economies insure themselves against current-account shocks using international reserves. We characterize the optimal management of reserves using an open-economy model of precautionary savings and emphasize several results. First, the welfare-based opportunity cost of reserves...
Persistent link: https://www.econbiz.de/10012977747
This paper studies, how allowing foreign capital flows in a developing economy will impact the inter-sector dynamics in terms of allocation of factors of production, relative output and real exchange rate. This paper introduces foreign capital flows to the theory of structural change and...
Persistent link: https://www.econbiz.de/10014104322
results show that there is no evidence of a long-run impact of remittances on income per capita in the region. The inflows …
Persistent link: https://www.econbiz.de/10012910246
For CIS countries, remittances have been growing drastically over the past decade. They have become an important source …. I test whether increasing remittances lead to appreciation of the real exchange rate and cause Dutch disease phenomenon …
Persistent link: https://www.econbiz.de/10012997504
Using disaggregated sectorial data, this study shows that rising levels of remittances have spending effects that lead …
Persistent link: https://www.econbiz.de/10014048966
-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 …
Persistent link: https://www.econbiz.de/10013098276
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 …
Persistent link: https://www.econbiz.de/10012960582
This paper examines two important channels which influence the dynamic absorption of remittances at the macroeconomic … level: (i) the presence of borrowing constraints, and (ii) the distribution of remittances across recipient households …. Using an open economy DSGE model with heterogeneous households, we show that remittances accruing to hand …
Persistent link: https://www.econbiz.de/10012856721