The Fed, Remittances, and Economic Cycles: A Cross-Border Perspective

• 발행기관: 세종대학교 경제통합연구소
• 저자명: Apu Chandra Das
• 간행물 정보: 『Journal of Economic Integration』제40권 제2호, 419~436쪽, 전체 18쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2025.05.31

국문 초록

The flow of remittances is shaped by the broader macroeconomic landscape of both the sending and receiving nations. This paper delves into the overlooked impact of U.S. monetary policy on remittance transfers to Latin America and the Caribbean. Employing panel local projections across eight recipient countries, we uncover a pronounced and statistically significant decline in remittance inflows following unexpected shifts in U.S. monetary conditions. Our findings remain consistent across different sample periods and when accounting for additional factors. This study, therefore, introduces a remittance-based transmission channel through which Federal Reserve policies reverberate across global economic cycles.

목차

I. Introduction

II. Literature Review

III. Descriptive Statistics

IV. The Empirical Model

V. Results

VI. Conclusions

References

키워드

Migrant Remittances Migration Business cycle Monetary policy External effects