Measuring the macroeconomic impact of workers' remittances in a data-rich environment.

Journal article

This article uses 85 monthly time series from Mexico to study the macroeconomic impact of workers' remittances. The estimation approach is based on the two-step factor augmented vector autoregression methodology used by Bernanke et al. (2005). The results show that Mexico's inward remittances have a positive impact on prices, the stock market, interest rates and various measures of economic activity.

Authors: Vargas-Silva, C

• Publisher: Taylor and Francis
• Journal: Applied Financial Economics Letters
• Volume: 3
• Issue: 6
• Pages: 359 - 363
• Publication date: 2007-01-01
• DOI: 10.1080/17446540600993878
• ISSN: 1744-6546
• Language: English