Format:
Online-Ressource (37 S.)
,
graph. Darst.
ISBN:
9781498300940
Series Statement:
IMF working paper 15/49
Content:
This paper investigates the channels through which remittances affect macroeconomic volatility in African countries using a dynamic stochastic general equilibrium (DSGE) model augmented with financial frictions. Empirical results indicate that remittances-as a share of GDP-have a significant smoothing impact on output volatility but their impact on consumption volatility is somewhat small. Furthermore, remittances are found to absorb a substantial amount of GDP shocks in these countries. An investigation of the theoretical channels shows that the stabilization impact of remittances essentially hinges on two channels: (i) the size of the negative wealth effect on labor supply induced by remittances and, (ii) the strength of financial frictions and the ability of remittances to alleviate these frictions
Note:
Systemvoraussetzungen: Acrobat Reader.
Additional Edition:
Erscheint auch als Druck-Ausgabe Jidoud, Ahmat Remittances and Macroeconomic Volatility in African Countries Washington, D.C. : International Monetary Fund, 2015 ISBN 9781498300940
Language:
English
Keywords:
Arbeitspapier
;
Graue Literatur
DOI:
10.5089/9781498300940.001
URL:
Volltext
(IMF e-Library)
