Beware of Emigrants Bearing Gifts : Optimal Fiscal and Monetary Policy in the Presence of Remittances

Optimal Fiscal and Monetary Policy in the Presence of Remittances

Beware of Emigrants Bearing Gifts : Optimal Fiscal and Monetary Policy in the Presence of Remittances
This paper uses a stochastic dynamic general equilibrium model to investigate the influence of countercyclical remittances on the conduct of fiscal and monetary policy and trace their effects on real and nominal variables in a business cycle setting. We show that remittances raise disposable income and consumption, and insure against income... READ MORE...

Publication date: March 2006
ISBN 9781451863215
$15.00

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