TY  - BOOK
AU  - Ruiz-Arranz,Marta
AU  - Lueth,Erik
AU  - Ruiz-Arranz,Marta
TI  - Are Workers' Remittances a Hedge Against Macroeconomic Shocks? the Case of Sri Lanka
T2  - IMF Working Papers; Working Paper
SN  - 1451865864 :
SN  - 1018-5941
PY  - 2007///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Cointegration
KW  - imf
KW  - Cyclicality
KW  - International Factor Movements: Other
KW  - Macroeconomic Analyses of Economic Development
KW  - Macroeconomic Shock
KW  - Remittance
KW  - Sri Lanka
N2  - We estimate a vector error correction (VEC) model for Sri Lanka to determine the response of remittance receipts to macroeconomic shocks. This is the first attempt of its kind in the literature. We find that remittance receipts are procyclical and decline when the island's currency weakens, undermining their usefulness as shock absorber. On the other hand, remittances increase in response to oil price shocks, reflecting the fact that most overseas. Sri Lankan are employed in the Gulf states. The procyclicality of remittances calls into question the notion that remittances are largely motivated by altruism
UR  - http://elibrary.imf.org/view/IMF001/00390-9781451865868/00390-9781451865868/00390-9781451865868.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451865868
ER  -