|Monetary Transmission in Developing Countries : Evidence from India|
Author/Editor: Prachi Mishra, Peter J Montiel, Rajeswari Sengupta.
Release Date:August, 2016
We examine the strength of monetary transmission in India, using a conventional structural VAR methodology. We find that a tightening of monetary policy is associated with a significant increase in more...
|VAR meets DSGE : Uncovering the Monetary Transmission Mechanism in Low-Income Countries|
Author/Editor: Bin Grace Li, Stephen A O'Connell, Christopher Adam, Andrew Berg, Peter Montiel.
Release Date:April, 2016
VAR methods suggest that the monetary transmission mechanism may be weak and unreliable in
low-income countries (LICs). But are structural VARs identified via short-run restrictions more...
|How Effective Is Monetary Transmission in Low-Income Countries? A Survey of the Empirical Evidence|
Author/Editor: Prachi Mishra, Peter Montiel.
Release Date:June, 2012
This paper surveys the evidence on the effectiveness of monetary transmission in low-income countries. It is hard to come away from this review with much confidence in the strength of monetary more...
|Workers' Remittances and the Equilibrium Real Exchange Rate : Theory and Evidence|
Author/Editor: Ralph Chami, Adolfo Barajas, Peter Montiel, Dalia Hakura.
Release Date:December, 2010
This paper investigates the impact of workers’ remittances on equilibrium real exchange rates (ERER) in recipient economies. Using a small open economy model, it shows that standard Dutch Disease more...
|Monetary Transmission in Low Income Countries|
Author/Editor: Peter Montiel, Antonio Spilimbergo, Prachi Mishra.
Release Date:October, 2010
This paper reviews monetary transmission mechanisms in low-income countries (LICs) to identify aspects of the channels that may operate differently in LICs relative to advanced and emerging more...
|Do Workers’ Remittances Promote Economic Growth?|
Author/Editor: Michael T. Gapen, Ralph Chami, Peter Montiel, Adolfo Barajas, Connel Fullenkamp.
Release Date:July, 2009
Over the past decades, workers' remittances have grown to become one of the largest sources of financial flows to developing countries, often dwarfing other widely-studied sources such as private more...
|Remittances : An Automatic Output Stabilizer?|
Author/Editor: Dalia Hakura, Ralph Chami, Peter Montiel.
Release Date:April, 2009
Remittance flows appear to be falling worldwide for the first time in decades as a result of the ongoing financial turmoil. It is suspected that the drop in remittance income into developing and more...
|Macroeconomic Consequences of Remittances|
Author/Editor: Connel Fullenkamp, Thomas F. Cosimano, Michael T. Gapen, Ralph Chami, Peter Montiel, Adolfo Barajas.
Release Date:March, 2008
Given the large size of aggregate remittance flows (billions of dollars annually), they should be expected to have significant macroeconomic effects on the economies that receive them. This paper more...
|Remittances and Institutions : Are Remittances a Curse?|
Author/Editor: Jihad Dagher, Ralph Chami, Peter Montiel, Yasser Abdih.
Release Date:February, 2008
This paper addresses the complex and overlooked relationship between the receipt of workers' remittances and institutional quality in the recipient country. Using a simple model, we show how an more...
|Exchange Rate Policy and Debt Crises in Emerging Economies|
Author/Editor: Peter Montiel, Samir Jahjah.
Release Date:March, 2003
We explore a model intended to capture the interaction between exchange rate policy, fiscal policy, and outright default on foreign-currency denominated debt. We examine how the exchange rate affects more...