Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.11851/6630
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dc.contributor.authorDurdu, Ceyhun Bora-
dc.contributor.authorSayan, Serdar-
dc.date.accessioned2021-09-11T15:43:01Z-
dc.date.available2021-09-11T15:43:01Z-
dc.date.issued2010en_US
dc.identifier.issn1020-7635-
dc.identifier.urihttps://doi.org/10.1057/imfsp.2009.3-
dc.identifier.urihttps://hdl.handle.net/20.500.11851/6630-
dc.description.abstractThis 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 business cycles in Mexico, whereas they amplify the cycles in Turkey. Their quantitative effects in the long run, approximated by the stochastic steady state, are mild. In the short run, however, remittances have quantitatively large impacts on the economy, when the economy is borrowing-constrained. This is because agents in the economy cannot adjust their precautionary wealth to sudden tightening in credit, and hence, fluctuations in remittances get magnified through an endogenous debt-deflation mechanism. The findings suggest that procyclical (or countercyclical) remittances can play a significant deepening (or mitigating) role for sudden stops. [JEL F41, F32, E32] IMF Staff Papers (2010) 57, 303-325. doi:10.1057/imfsp.2009.3; published online 15 December 2009en_US
dc.language.isoenen_US
dc.publisherPalgrave Macmillan Ltden_US
dc.relation.ispartofImf Staff Papersen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subject[No Keywords]en_US
dc.titleEmerging Market Business Cycles with Remittance Fluctuationsen_US
dc.typeArticleen_US
dc.departmentFaculties, Faculty of Economics and Administrative Sciences, Department of Economicsen_US
dc.departmentFakülteler, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümütr_TR
dc.identifier.volume57en_US
dc.identifier.issue2en_US
dc.identifier.startpage303en_US
dc.identifier.endpage325en_US
dc.identifier.wosWOS:000278488300002en_US
dc.identifier.scopus2-s2.0-77956990824en_US
dc.institutionauthorSayan, Serdar-
dc.identifier.doi10.1057/imfsp.2009.3-
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
item.fulltextNo Fulltext-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.languageiso639-1en-
item.cerifentitytypePublications-
item.openairetypeArticle-
item.grantfulltextnone-
crisitem.author.dept04.01. Department of Economics-
Appears in Collections:İktisat Bölümü / Department of Economics
Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection
WoS İndeksli Yayınlar Koleksiyonu / WoS Indexed Publications Collection
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