06118oam 22012854 450 991081617670332120240402045715.01-61635-776-21-4755-9988-91-283-86692-71-4755-6376-0(CKB)2550000000709427(EBL)1607028(SSID)ssj0000944396(PQKBManifestationID)11944132(PQKBTitleCode)TC0000944396(PQKBWorkID)10983281(PQKB)10736577(Au-PeEL)EBL1607028(CaPaEBR)ebr10635361(CaONFJC)MIL417942(OCoLC)870245073(IMF)WPIEE2012251(IMF)WPIEA2012251(MiAaPQ)EBC1607028(EXLCZ)99255000000070942720020129d2012 uf 0engur|n|---|||||txtccrWorkers’ Remittances : An Overlooked Channel of International Business Cycle Transmission? /Adolfo Barajas, Ralph Chami, Christian Ebeke, Sampawende Tapsoba1st ed.Washington, D.C. :International Monetary Fund,2012.1 online resource (26 p.)IMF Working PapersIMF working paper ;WP/12/251Description based upon print version of record.1-4755-3582-1 Includes bibliographical references.Cover; Contents; I. Introduction; II. Baseline Specifications of the Effect of Remittances on Business Cycle Synchronization; A. Unilateral Specification; B. Specification Based on Bilateral Data; C. Data; III. Preliminary Results; A. Results Using Aggregate Data; B. Results Using Bilateral Data; Tables; 1. Impact of Remittance Inflows on International Business Cycle Synchronization; IV. Is the Effect of Remittance Inflows Asymmetric?; 2. Bilateral Determinants of Business Cycle Synchronization; 3. Asymmetric Impact of Remittances; 4. Asymmetric Impact of Remittances: Bilateral DataV. Identifying a Causal Relationship Between Remittances and the International Business Cycle Synchronization A. Using the Selection Based on Observables to Assess the Bias from Unobservables; B. Addressing the Potential Reverse Causality Between Remittances and the Components of the Dependent Variable; 5. Additional Controls and Assessing the Bias due to Selection Based?; 6. Instrumental Variable Estimates: Aggregate Data; 7. Instrumental Variable Estimates: Bilateral Data; VI. Concluding Remarks; References; Appendix; I. Descriptive Statistics and List of Countries; A. Aggregate DataAppendix Tables A1. Descriptive Statistics; A2. List of Countries, 70; B. Bilateral Data; B1. Descriptive Statistics; B2. List of Countries, 10This paper shows that remittance flows significantly increase the business cycle synchronization between remittance-recipient countries and the rest of the world. Using both aggregate and bilateral remittances data in a panel data setting, the study demonstrates that this effect is robust and causal. Moreover, the econometric analysis reveals that remittance flows are more effective in channeling economic downturns than upswings from the sending countries to remittance-receiving economies. The analysis suggests that measures of openness and spillovers could be enhanced by accounting for the role of the remittances channel.IMF Working Papers; Working Paper ;No. 2012/251Emigrant remittancesForeign exchangeExports and ImportsimfMacroeconomicsimfBusiness FluctuationsimfCyclesimfEconomic IntegrationimfRemittancesimfFinancial Aspects of Economic IntegrationimfOpen Economy MacroeconomicsimfPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)imfInternational InvestmentimfLong-term Capital MovementsimfEmpirical Studies of TradeimfInternational economicsimfEconomic growthimfFinanceimfBusiness cyclesimfForeign direct investmentimfTerms of tradeimfBalance of paymentsimfInternational tradeimfInternational financeimfInvestments, ForeignimfEconomic policyimfnternational cooperationimfUnited StatesimfEmigrant remittances.Foreign exchange.Exports and ImportsMacroeconomicsBusiness FluctuationsCyclesEconomic IntegrationRemittancesFinancial Aspects of Economic IntegrationOpen Economy MacroeconomicsPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)International InvestmentLong-term Capital MovementsEmpirical Studies of TradeInternational economicsEconomic growthFinanceBusiness cyclesForeign direct investmentTerms of tradeBalance of paymentsInternational tradeInternational financeInvestments, ForeignEconomic policynternational cooperation332.1;332.1532Barajas Adolfo1699071Chami Ralph1614210Ebeke Christian1449652Tapsoba Sampawende1450947International Monetary Fund.DcWaIMFBOOK9910816176703321Workers’ Remittances4081033UNINA