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Measuring the macroeconomic impact of workers' remittances in a data-rich environment

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  • Carlos Vargas-Silva

Abstract

This article uses 85 monthly time series from Mexico to study the macroeconomic impact of workers' remittances. The estimation approach is based on the two-step factor augmented vector autoregression methodology used by Bernanke et al. (2005). The results show that Mexico's inward remittances have a positive impact on prices, the stock market, interest rates and various measures of economic activity.

Suggested Citation

  • Carlos Vargas-Silva, 2007. "Measuring the macroeconomic impact of workers' remittances in a data-rich environment," Applied Financial Economics Letters, Taylor and Francis Journals, vol. 3(6), pages 359-363.
  • Handle: RePEc:taf:apfelt:v:3:y:2007:i:6:p:359-363
    DOI: 10.1080/17446540600993878
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    Cited by:

    1. Ziesemer, Thomas H.W., 2010. "The impact of the credit crisis on poor developing countries: Growth, worker remittances, accumulation and migration," Economic Modelling, Elsevier, vol. 27(5), pages 1230-1245, September.
    2. Ziesemer, Thomas H.W., 2012. "Worker remittances, migration, accumulation and growth in poor developing countries: Survey and analysis of direct and indirect effects," Economic Modelling, Elsevier, vol. 29(2), pages 103-118.
    3. Díaz, Violeta & Soydemir, Gökçe, 2013. "Regional foreclosures and Mexican remittances: Evidence from the housing market crisis," The North American Journal of Economics and Finance, Elsevier, vol. 24(C), pages 74-86.

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