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|z 9781498300940
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|a Jidoud, Ahmat.
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|a Remittances and Macroeconomic Volatility in African Countries /
|c Ahmat Jidoud.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2015.
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|a 1 online resource (37 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper investigates the channels through which remittances affect macroeconomic volatility in African countries using a dynamic stochastic general equilibrium (DSGE) model augmented with financial frictions. Empirical results indicate that remittances-as a share of GDP-have a significant smoothing impact on output volatility but their impact on consumption volatility is somewhat small. Furthermore, remittances are found to absorb a substantial amount of GDP shocks in these countries. An investigation of the theoretical channels shows that the stabilization impact of remittances essentially hinges on two channels: (i) the size of the negative wealth effect on labor supply induced by remittances and, (ii) the strength of financial frictions and the ability of remittances to alleviate these frictions.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2015/049
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2015/049/001.2015.issue-049-en.xml
|z IMF e-Library
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