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Journal Article
Banking on remittances: reaching the immigrant market
Immigrants in the United States represent a large and growing market for financial institutions, not only in traditional ports of entry such as Los Angeles, New York, Chicago, and Miami, but also in newly emerging gateway cities across the U.S., including Dalton, Georgia, and Nashville, Tennessee.
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.
Journal Article
Linking international remittance flows to financial Services: tapping the Latino immigrant market
The flow of immigrants from a number of countries continues to shape the economic and demographic makeup of communities across the United States. Recent rapid growth and the overall size of the immigrant population from Latin American countries, in particular, have increased this group?s political and economic influence. As a result, the U.S. banking industry is becoming keenly aware of the significant business potential that the Latino market represents.
Journal Article
A focus group study of Latin American immigrants' financial behaviors
The subject of U.S. immigration ? particularly more recent immigration trends ? has generated many contentious debates around crime, impacts of worker skill levels on economic growth patterns, and on relative wage rates, among other areas. Further, analysis and focused studies of immigrant populations reveal varied and disjointed economic behaviors.
Working Paper
Do remittances boost economic development? Evidence from Mexican states
Remittances have been promoted as a development tool because they can raise incomes and reduce poverty rates in developing countries. Remittances may also promote development by providing funds that recipients can spend on education or health care or invest in entrepreneurial activities. From a macroeconomic perspective, remittances can boost aggregate demand and thereby GDP as well as spur economic growth. However, remittances may also have adverse macroeconomic impacts by increasing income inequality and reducing labor supply among recipients. We use state-level data from Mexico during ...