Beware of emigrants bearing gifts : optimal fiscal and monetary policy in the presence of remittances /
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| Author / Creator: | Chami, Ralph, author. |
|---|---|
| Imprint: | [Washington, D.C.] : International Monetary Fund, IMF Institute, ©2006. |
| Description: | 1 online resource (49 pages) |
| Language: | English |
| Series: | IMF working paper ; WP/06/61 IMF working paper ; WP/06/61. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12498751 |
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| 100 | 1 | |a Chami, Ralph, |e author. |0 http://id.loc.gov/authorities/names/no99019809 | |
| 245 | 1 | 0 | |a Beware of emigrants bearing gifts : |b optimal fiscal and monetary policy in the presence of remittances / |c [prepared by] Ralph Chami, Thomas F. Cosimano, Michael T. Gapen. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, IMF Institute, |c ©2006. | ||
| 300 | |a 1 online resource (49 pages) | ||
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| 490 | 1 | |a IMF working paper ; |v WP/06/61 | |
| 504 | |a Includes bibliographical references. | ||
| 588 | 0 | |a Print version record. | |
| 520 | |a This paper uses a stochastic dynamic general equilibrium model to investigate the influence of countercyclical remittances on the conduct of fiscal and monetary policy and trace their effects on real and nominal variables in a business cycle setting. We show that remittances raise disposable income and consumption, and insure against income shocks, thereby raising household welfare. However, remittances increase the correlation between labor and output, thereby producing a more volatile business cycle and increasing output and labor market risk. Optimal monetary policy in the presence of remittances deviates from the Friedman rule, highlighting the need for independent government policy instruments. | ||
| 506 | |3 Use copy |f Restrictions unspecified |2 star |5 MiAaHDL | ||
| 533 | |a Electronic reproduction. |b [Place of publication not identified] : |c HathiTrust Digital Library, |d 2010. |5 MiAaHDL | ||
| 538 | |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |u http://purl.oclc.org/DLF/benchrepro0212 |5 MiAaHDL | ||
| 583 | 1 | |a digitized |c 2010 |h HathiTrust Digital Library |l committed to preserve |2 pda |5 MiAaHDL | |
| 505 | 0 | |a Contents -- I. INTRODUCTION -- II. REMITTANCES -- THEIR MOTIVATION -- III. A STOCHASTIC MONETARY ECONOMY -- IV. THE RAMSEY EQUILIBRIUM -- V. RESULTS -- VI. CONCLUSION -- References | |
| 650 | 0 | |a Emigrant remittances |x Econometric models. | |
| 650 | 0 | |a Fiscal policy |x Econometric models. | |
| 650 | 0 | |a Monetary policy |x Econometric models. | |
| 650 | 6 | |a Envois de fonds des émigrants |x Modèles économétriques. | |
| 650 | 6 | |a Politique fiscale |x Modèles économétriques. | |
| 650 | 6 | |a Politique monétaire |x Modèles économétriques. | |
| 650 | 7 | |a Emigrant remittances |x Econometric models. |2 fast |0 (OCoLC)fst00908686 | |
| 650 | 7 | |a Fiscal policy |x Econometric models. |2 fast |0 (OCoLC)fst00925810 | |
| 650 | 7 | |a Monetary policy |x Econometric models. |2 fast |0 (OCoLC)fst01025234 | |
| 655 | 7 | |a Electronic books. |2 gtlm | |
| 700 | 1 | |a Cosimano, Thomas F., |e author. |0 http://id.loc.gov/authorities/names/no99019811 | |
| 700 | 1 | |a Gapen, Michael, |e author. |0 http://id.loc.gov/authorities/names/no2002078318 | |
| 710 | 2 | |a International Monetary Fund. |0 http://id.loc.gov/authorities/names/n81052755 | |
| 710 | 2 | |a IMF Institute. |0 http://id.loc.gov/authorities/names/n81065613 | |
| 776 | 0 | 8 | |i Print version: |a Chami, Ralph. |t Beware of emigrants bearing gifts. |d [Washington, D.C.] : International Monetary Fund, IMF Institute, ©2006 |w (OCoLC)74114148 |
| 830 | 0 | |a IMF working paper ; |v WP/06/61. |0 http://id.loc.gov/authorities/names/no89010263 | |
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