LEADER 04700oam 22010934 450 001 9910788413703321 005 20230828232700.0 010 $a1-4623-8309-2 010 $a1-4519-8329-8 010 $a1-283-51391-9 010 $a9786613826367 010 $a1-4519-0963-2 035 $a(CKB)3360000000443627 035 $a(EBL)3014455 035 $a(SSID)ssj0000940710 035 $a(PQKBManifestationID)11553732 035 $a(PQKBTitleCode)TC0000940710 035 $a(PQKBWorkID)10955563 035 $a(PQKB)11057194 035 $a(OCoLC)694141120 035 $a(MiAaPQ)EBC3014455 035 $a(IMF)WPIEE2006250 035 $a(EXLCZ)993360000000443627 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aWhat Do Remittances Do? Analyzing the Private Remittance Transmission Mechanism in El Salvador /$fLuis René Cáceres, Nolvia Nery Saca 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (32 p.) 225 1 $aIMF Working Papers 300 $a"November 2006." 311 $a1-4518-6510-4 320 $aIncludes bibliographical references. 327 $a""Contents""; ""I. INTRODUCTION""; ""II. BRIEF REVIEW OF RESEARCH ON EL SALVADORa???S RECEIPTS OF REMITTANCES""; ""III. STYLIZED FACTS OF EL SALVADORa???S ECONOMY, 1995a???2004""; ""IV. MODEL SPECIFICATION AND DATA ISSUES""; ""V. EMPIRICAL EVIDENCE: TRANSMISSION MECHANISM""; ""VI. CONCLUSIONS AND ECONOMIC POLICY IMPLICATIONS""; ""APPENDIXES""; ""References"" 330 3 $aFamily remittances are important for El Salvador's economy. This paper analyzes the impact of remittances on El Salvador's economy and the spillover effects on the other Central American countries. A vector autoregression (VAR) model is formulated, consisting of real and monetary variables. The results suggest that in, El Salvador, remittances lead to decreases in economic activity, international reserves, and money supply and increases in the interest rate, imports, and consumer prices. This underscores the need for reorienting economic policy in El Salvador to promote the use of remittances in capital formation activities to maximize the benefit of remittances. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/250 606 $aEmigrant remittances$zEl Salvador$xEconometric models 606 $aMonetary policy$zEl Salvador$xEconometric models 606 $aBanks and Banking$2imf 606 $aExports and Imports$2imf 606 $aForeign Exchange$2imf 606 $aMoney and Monetary Policy$2imf 606 $aRemittances$2imf 606 $aTrade: General$2imf 606 $aMonetary Policy$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aInternational economics$2imf 606 $aBanking$2imf 606 $aMonetary economics$2imf 606 $aCurrency$2imf 606 $aForeign exchange$2imf 606 $aImports$2imf 606 $aInternational reserves$2imf 606 $aMonetary base$2imf 606 $aReal exchange rates$2imf 606 $aInternational finance$2imf 606 $aForeign exchange reserves$2imf 606 $aMoney supply$2imf 607 $aEl Salvador$xEconomic conditions$y1945-$xEconometric models 607 $aEl Salvador$xEconomic policy$xEconometric models 607 $aEl Salvador$2imf 615 0$aEmigrant remittances$xEconometric models. 615 0$aMonetary policy$xEconometric models. 615 7$aBanks and Banking 615 7$aExports and Imports 615 7$aForeign Exchange 615 7$aMoney and Monetary Policy 615 7$aRemittances 615 7$aTrade: General 615 7$aMonetary Policy 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aInternational economics 615 7$aBanking 615 7$aMonetary economics 615 7$aCurrency 615 7$aForeign exchange 615 7$aImports 615 7$aInternational reserves 615 7$aMonetary base 615 7$aReal exchange rates 615 7$aInternational finance 615 7$aForeign exchange reserves 615 7$aMoney supply 700 $aCáceres$b Luis René$01546575 701 $aNery Saca$b Nolvia$01546576 712 02$aInternational Monetary Fund.$bStatistics Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788413703321 996 $aWhat Do Remittances Do? Analyzing the Private Remittance Transmission Mechanism in El Salvador$93802273 997 $aUNINA