Volatility of Remittances to Pakistan: What do the Data Tell?
This paper examines the volatility of remittance flows to Pakistan using the ARCH model. We find overall remittances to be stable, whereas those from the Middle East and North America are relatively volatile, owing to fluctuations in the output of the host economies and the migrants' profile. Remittances from Europe are the least volatile and do not vary as a result of shocks to the host or home economy. Remittances to Pakistan, especially those from Europe, can thus be used as a stable source of foreign exchange flows.
Volume (Year): 31 (2011)
Issue (Month): 1 ()
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