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Keywords:Emigrant remittances 

Working Paper
Immigration, remittances and business cycles

We use data on border enforcement and macroeconomic indicators from the U.S. and Mexico to estimate a two-country business cycle model of labor migration and remittances. The model matches the cyclical dynamics of labor migration to the U.S. and documents how remittances to Mexico serve an insurance role to smooth consumption across the border. During expansions in the destination economy, immigration increases with the expected stream of future wage gains, but it is dampened by a sunk migration cost that reflects the intensity of border enforcement. During recessions, established migrants ...
International Finance Discussion Papers , Paper 998

Working Paper
Business cycles and remittances: can the Beveridge-Nelson decomposition provide new evidence?

In this paper, I analyze the business cycle properties of remittances and output series for three pairs of countries: United States-Mexico, United States-El Salvador, and Germany-Turkey. Using an unobserved components state-space model (via the Beveridge-Nelson decomposition), I decompose the remittances and output series into stochastic permanent and cyclical components. I then use the resulting stationary cyclical components to estimate co-movements between remittances and output series. Empirical results indicate that remittances are countercyclical with all the home countries: Mexico, El ...
Globalization Institute Working Papers , Paper 40

Journal Article
Banking unbanked immigrants through remittances

High service fees for sending money abroad can be a financial strain for low and moderate-income immigrants. George Samuels explores how some mainstream financial institutions are offering competitive pricing for the service and, as a result, are banking a new set of customers.
Communities and Banking , Issue Fall , Pages 3-8

Journal Article
Against the tide—currency use among Latin American immigrants in Chicago

While the U.S. continues to transition away from cash toward electronic payment methods, some population segments continue to rely heavily on cash. In this study of foreign-born Latin Americans in Chicago, the authors find that the dramatic increase in the number of immigrants is supporting a growing demand for currency, notably in the $100 denomination.
Economic Perspectives , Volume 31 , Issue Q II , Pages 2-21

Conference Paper
Banking on remittances: increasing market efficiencies for consumers and financial institutions

Proceedings , Paper 967

Conference Paper
Remittances and their microeconomic impacts: evidence from Latin America

The flow of remittances to Latin American and Caribbean countries is the highest and fastest growing in the world, exceeding foreign direct investment and net official development assistance to the region. Remittances surpass tourism income and almost always exceed revenues from the largest export in these countries, accounting for at least 10 percent of gross domestic product in six of them. Furthermore, remittances are the least volatile source of foreign exchange in many of these economies, thus playing a crucial role in economic development. ; In what follows, I provide a general overview ...
Proceedings

Working Paper
Remittances, exchange rate regimes, and the Dutch disease: a panel data analysis

Using disaggregated sectorial data, this study shows that rising levels of remittances have spending effects that lead to real exchange rate appreciation and resource movement effects that favor the nontradable sector at the expense of tradable goods production. These characteristics are two aspects of the phenomenon known as Dutch disease. The results further indicate that these effects operate more strongly under fixed nominal exchange rate regimes.
FRB Atlanta Working Paper , Paper 2008-12

Journal Article
Study examines Mexican immigrants remitting habits

Altruism, investment, and mitigating risk are important reasons Mexican immigrants in the United States remit money to their home country.
Financial Update , Volume 18 , Issue Q 1

Journal Article
Directo a México promotes FedACH service

As remittances to Mexico continue to grow rapidly, the Fed and Banco de Mxico launch a new marketing campaign to help banks capture more of the remittance market.
Financial Update , Volume 18 , Issue Q 4

Conference Paper
Leveraging remittances for development

Migrant remittances have become a major source of external development finance. They can play an effective role in reducing poverty. And they provide a convenient angle for approaching the complex migration agenda. ; Remittances are personal flows from migrants to their friends and families and should not be taxed or directed to specific development uses. Instead, the development community should make remittance services cheaper and more convenient and indirectly leverage these flows to improve financial access of migrants, their beneficiaries, and the financial intermediaries in the origin ...
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