Number 946 September 2008 Emerging Market Business Cycles with Remittance Fluctuations Ceyhun

@inproceedings{Durdu2008Number9S,
  title={Number 946 September 2008 Emerging Market Business Cycles with Remittance Fluctuations Ceyhun},
  author={Bora Durdu and Serdar Sayan},
  year={2008}
}
  • Bora Durdu, Serdar Sayan
  • Published 2008
This paper analyzes the implications of remittance fluctuations for various macroeconomic variables and Sudden Stops. The paper employs a quantitative two-sector model of a small open economy with financial frictions calibrated to Mexican and Turkish economies, two major recipients, whose remittance receipts feature opposite cyclical characteristics. We find that remittances dampen the business cycles in Mexico, whereas they amplify the cycles in Turkey. Their quantitative effects in the long… CONTINUE READING