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010   $a1-4623-8008-5
010   $a1-4527-1483-5
010   $a1-283-51635-7
010   $a9786613828804
010   $a1-4519-0857-1
035   $a(CKB)3360000000443807
035   $a(EBL)3014314
035   $a(SSID)ssj0000940073
035   $a(PQKBManifestationID)11571941
035   $a(PQKBTitleCode)TC0000940073
035   $a(PQKBWorkID)10938244
035   $a(PQKB)10256234
035   $a(OCoLC)698585490
035   $a(MiAaPQ)EBC3014314
035   $a(IMF)WPIEE2006061
035   $a(EXLCZ)993360000000443807
100   $a20020129d2006      uf             0
101 0 $aeng
181   $ctxt
182   $cc
183   $acr
200 10$aBeware of Emigrants Bearing Gifts : $eOptimal Fiscal and Monetary Policy in the Presence of Remittances /$fMichael Gapen, Thomas Cosimano, Ralph Chami
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2006.
215   $a1 online resource (51 p.)
225 1 $aIMF Working Papers
300   $a"March 2006."
311   $a1-4518-6321-7 
320   $aIncludes bibliographical references.
327   $a""Contents""; ""I. INTRODUCTION""; ""II. REMITTANCES""; ""THEIR MOTIVATION""; ""III. A STOCHASTIC MONETARY ECONOMY""; ""IV. THE RAMSEY EQUILIBRIUM""; ""V. RESULTS""; ""VI. CONCLUSION""; ""References""
330 3 $aThis paper uses a stochastic dynamic general equilibrium model to investigate the influence of countercyclical remittances on the conduct of fiscal and monetary policy and trace their effects on real and nominal variables in a business cycle setting. We show that remittances raise disposable income and consumption, and insure against income shocks, thereby raising household welfare. However, remittances increase the correlation between labor and output, thereby producing a more volatile business cycle and increasing output and labor market risk. Optimal monetary policy in the presence of remittances deviates from the Friedman rule, highlighting the need for independent government policy instruments.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2006/061
606   $aEmigrant remittances$xEconometric models
606   $aFiscal policy$xEconometric models
606   $aMonetary policy$xEconometric models
606   $aExports and Imports$2imf
606   $aLabor$2imf
606   $aMacroeconomics$2imf
606   $aTaxation$2imf
606   $aFinancial Markets and the Macroeconomy$2imf
606   $aComparative or Joint Analysis of Fiscal and Monetary Policy$2imf
606   $aStabilization$2imf
606   $aTreasury Policy$2imf
606   $aRemittances$2imf
606   $aDemand and Supply of Labor: General$2imf
606   $aAggregate Factor Income Distribution$2imf
606   $aMacroeconomics: Consumption$2imf
606   $aSaving$2imf
606   $aWealth$2imf
606   $aPersonal Income and Other Nonbusiness Taxes and Subsidies$2imf
606   $aInternational economics$2imf
606   $aLabour$2imf
606   $aincome economics$2imf
606   $aWelfare & benefit systems$2imf
606   $aLabor supply$2imf
606   $aIncome$2imf
606   $aConsumption$2imf
606   $aLabor taxes$2imf
606   $aBalance of payments$2imf
606   $aNational accounts$2imf
606   $aTaxes$2imf
606   $aInternational finance$2imf
606   $aLabor market$2imf
606   $aEconomics$2imf
606   $aIncome tax$2imf
607   $aUnited States$2imf
615  0$aEmigrant remittances$xEconometric models.
615  0$aFiscal policy$xEconometric models.
615  0$aMonetary policy$xEconometric models.
615  7$aExports and Imports
615  7$aLabor
615  7$aMacroeconomics
615  7$aTaxation
615  7$aFinancial Markets and the Macroeconomy
615  7$aComparative or Joint Analysis of Fiscal and Monetary Policy
615  7$aStabilization
615  7$aTreasury Policy
615  7$aRemittances
615  7$aDemand and Supply of Labor: General
615  7$aAggregate Factor Income Distribution
615  7$aMacroeconomics: Consumption
615  7$aSaving
615  7$aWealth
615  7$aPersonal Income and Other Nonbusiness Taxes and Subsidies
615  7$aInternational economics
615  7$aLabour
615  7$aincome economics
615  7$aWelfare & benefit systems
615  7$aLabor supply
615  7$aIncome
615  7$aConsumption
615  7$aLabor taxes
615  7$aBalance of payments
615  7$aNational accounts
615  7$aTaxes
615  7$aInternational finance
615  7$aLabor market
615  7$aEconomics
615  7$aIncome tax
700   $aGapen$b Michael$01614208
701   $aCosimano$b Thomas$01614209
701   $aChami$b Ralph$01614210
712 02$aInternational Monetary Fund.
712 02$aIMF Institute.
801  0$bDcWaIMF
906   $aBOOK
912   $a9910817594803321
996   $aBeware of Emigrants Bearing Gifts$93943922
997   $aUNINA