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The tale of three amigos: Remittances, exchange rates, and money demand in Mexico.

Abstract:

The author analyzes the relationship between remittances, exchange rates, and money demand in Mexico. He finds that shocks to remittances have a positive impact on domestic money demand. The results also suggest the existence of a bi-directional relationship between remittances and the exchange rate. Furthermore, positive shocks to remittances are found to have a negative impact on Mexico's real exchange rate. This indicates that remittances appreciate the Mexican peso and therefore may impac...

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Publisher copy:
10.1111/j.1467-9361.2008.00468.x

Authors


Carlos Vargas-Silva More by this author
Journal:
Review of Development Economics
Volume:
13
Issue:
1
Publication date:
2009
DOI:
URN:
uuid:c5fc1502-1252-4908-ad08-f37b4877cc24
Local pid:
oai:economics.ouls.ox.ac.uk:14966
Language:
English

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