We present cross-country evidence on the impact of remittances on labor market outcomes.Remittances appear to have a strong impact on both labor supply and labor demand inrecipient countries. These effects are highly significant and greater in size than those offoreign direct investment or...

In "Capital Trading, Stock Trading, and the Inflation Tax on Equity," Chami, Cosimano, and Fullenkamp (2001) (hereafter, CCF) analyze a cash-in-advance model in which capital goods are explicitly traded. The authors show that there is more responsiveness of consumption and output to changes in...

Private transfers between individuals or through organized charities are increasingly viewed as an alternative for government social insurance programs. This paper models the incentive effects of government subsidized private transfers and finds that while there is a significant welfare benefit...

Note: This is a description of the paper and not the actual abstract. This paper analyzes how transfers among family members affect the behavior of transfer recipients in the market and how market prices reflect the presence of non-market transfers. Parental and spousal transfers are motivated...

This paper analyzes how transfers among family members affect the behavior of transfer recipients in the market, and how market prices reflect the presence of such nonmarket transfers. Parental and spousal transfers are motivated both by altruism and by a desire to use the transfers to impart...

This paper argues that the stock market is an important channel of monetary policy. Monetary policy affects real economic activity because inflation levies a property tax on stocks in addition to an income tax on dividend payments. Inflation thus taxes stocks more heavily than it does bonds....