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Do Remittances to Latin America Depend on the U.S. Business Cycle?, Ewa Gradzka, Shaun Roache

Contributor
Abstract
We use a range of methods and remittance data from 1990 to 2007 to assess the strength and significance of linkages between remittance flows to Latin America and the U.S. business cycle. All of the evidence suggests that remittance flows are relatively insensitive to fluctuations in the U.S. cycle, underlining their role as a stable source of external financing, in good times and bad. A number of factors, notwithstanding uncertainties related to official remittance data reliability, might explain this result, including remittance smoothing and flexible immigrant labor markets
Table Of Contents
Contents; I. Introduction; II. Literature review; Figures; 1. Remittance Flows to Latin America, 2006; III. Data; IV. Estimating Linkages; A. Correlations; Tables; 1. Summary Statistics for First-Differenced Remittance Data; 2. Correlations Between Sample Countries and U.S. Indicators; B. Cointegrating long-run relationships; C. Distributed lag estimation; D. Dynamic factor model; V. Conclusion; 2. Dynamic Common Factor Model: Sensitivity of Remittances; References; Appendix
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (34 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781452736990

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