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Record Nr. |
UNINA9910788413703321 |
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Autore |
Cáceres Luis René |
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Titolo |
What Do Remittances Do? Analyzing the Private Remittance Transmission Mechanism in El Salvador / / Luis René Cáceres, Nolvia Nery Saca |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2006 |
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ISBN |
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1-4623-8309-2 |
1-4519-8329-8 |
1-283-51391-9 |
9786613826367 |
1-4519-0963-2 |
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Descrizione fisica |
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1 online resource (32 p.) |
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Collana |
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Altri autori (Persone) |
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Soggetti |
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Emigrant remittances - El Salvador - Econometric models |
Monetary policy - El Salvador - Econometric models |
Banks and Banking |
Exports and Imports |
Foreign Exchange |
Money and Monetary Policy |
Remittances |
Trade: General |
Monetary Policy |
Monetary Policy, Central Banking, and the Supply of Money and Credit: General |
International economics |
Banking |
Monetary economics |
Currency |
Foreign exchange |
Imports |
International reserves |
Monetary base |
Real exchange rates |
International finance |
Foreign exchange reserves |
Money supply |
El Salvador Economic conditions 1945- Econometric models |
El Salvador Economic policy Econometric models |
El Salvador |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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""Contents""; ""I. INTRODUCTION""; ""II. BRIEF REVIEW OF RESEARCH ON EL SALVADOR�S RECEIPTS OF REMITTANCES""; ""III. STYLIZED FACTS OF EL SALVADOR�S ECONOMY, 1995�2004""; ""IV. MODEL SPECIFICATION AND DATA ISSUES""; ""V. EMPIRICAL EVIDENCE: TRANSMISSION MECHANISM""; ""VI. CONCLUSIONS AND ECONOMIC POLICY IMPLICATIONS""; ""APPENDIXES""; ""References"" |
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Sommario/riassunto |
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Family remittances are important for El Salvador's economy. This paper analyzes the impact of remittances on El Salvador's economy and the spillover effects on the other Central American countries. A vector autoregression (VAR) model is formulated, consisting of real and monetary variables. The results suggest that in, El Salvador, remittances lead to decreases in economic activity, international reserves, and money supply and increases in the interest rate, imports, and consumer prices. This underscores the need for reorienting economic policy in El Salvador to promote the use of remittances in capital formation activities to maximize the benefit of remittances. |
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