Remittance Inflows and State-Dependent Monetary Policy Transmission in Developing Countries

Immaculate Machasio and Peter Tillmann

VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking from Verein für Socialpolitik / German Economic Association

Abstract: Remittance inflows from overseas workers are an important source of foreign funding for developing and emerging economies. This paper estimates nonlinear (smooth-transition) local projections to study the effectiveness of monetary policy under different remittance inflows regimes. We show that for Kenya, Mexico, Colombia and the Philippines monetary policy has a smaller effect under strong inflows of remittances.

JEL-codes: E52 (search for similar items in EconPapers)
Date: 2017
New Economics Papers: this item is included in nep-cba, nep-mac, nep-mon and nep-sea
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https://www.econstor.eu/bitstream/10419/168137/1/VfS-2017-pid-2621.pdf (application/pdf)

Related works:
Working Paper: Remittance Inflows and State-Dependent Monetary Policy Transmission in Developing Countries (2017)
Working Paper: Remittance Infl ows and State-Dependent Monetary Policy Transmission in Developing Countries (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:vfsc17:168137

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