Remittances and Macroeconomic Volatility in African Countries:
This paper investigates the channels through which remittances affect macroeconomic volatility in African countries using a dynamic stochastic general equilibrium (DSGE) model augmented with financial frictions. Empirical results indicate that remittances-as a share of GDP-have a significant smoothi...
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1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2015
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Schriftenreihe: | IMF Working Papers: Working Paper No. 15 / 49
|
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | This paper investigates the channels through which remittances affect macroeconomic volatility in African countries using a dynamic stochastic general equilibrium (DSGE) model augmented with financial frictions. Empirical results indicate that remittances-as a share of GDP-have a significant smoothing impact on output volatility but their impact on consumption volatility is somewhat small. Furthermore, remittances are found to absorb a substantial amount of GDP shocks in these countries. An investigation of the theoretical channels shows that the stabilization impact of remittances essentially hinges on two channels: (i) the size of the negative wealth effect on labor supply induced by remittances and, (ii) the strength of financial frictions and the ability of remittances to alleviate these frictions |
Beschreibung: | 1 Online-Ressource (37 p) |
ISBN: | 149832374X 9781498323741 |
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spelling | Jidoud, Ahmat Verfasser aut Remittances and Macroeconomic Volatility in African Countries Jidoud, Ahmat Washington, D.C International Monetary Fund 2015 1 Online-Ressource (37 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers: Working Paper No. 15 / 49 This paper investigates the channels through which remittances affect macroeconomic volatility in African countries using a dynamic stochastic general equilibrium (DSGE) model augmented with financial frictions. Empirical results indicate that remittances-as a share of GDP-have a significant smoothing impact on output volatility but their impact on consumption volatility is somewhat small. Furthermore, remittances are found to absorb a substantial amount of GDP shocks in these countries. An investigation of the theoretical channels shows that the stabilization impact of remittances essentially hinges on two channels: (i) the size of the negative wealth effect on labor supply induced by remittances and, (ii) the strength of financial frictions and the ability of remittances to alleviate these frictions Online-Ausg http://www.elibrary.imf.org/view/IMF001/22392-9781498300940/22392-9781498300940/22392-9781498300940.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Jidoud, Ahmat Remittances and Macroeconomic Volatility in African Countries |
title | Remittances and Macroeconomic Volatility in African Countries |
title_auth | Remittances and Macroeconomic Volatility in African Countries |
title_exact_search | Remittances and Macroeconomic Volatility in African Countries |
title_exact_search_txtP | Remittances and Macroeconomic Volatility in African Countries |
title_full | Remittances and Macroeconomic Volatility in African Countries Jidoud, Ahmat |
title_fullStr | Remittances and Macroeconomic Volatility in African Countries Jidoud, Ahmat |
title_full_unstemmed | Remittances and Macroeconomic Volatility in African Countries Jidoud, Ahmat |
title_short | Remittances and Macroeconomic Volatility in African Countries |
title_sort | remittances and macroeconomic volatility in african countries |
url | http://www.elibrary.imf.org/view/IMF001/22392-9781498300940/22392-9781498300940/22392-9781498300940.xml |
work_keys_str_mv | AT jidoudahmat remittancesandmacroeconomicvolatilityinafricancountries |