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Author/Editor:
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Nery Saca, Nolvia ; Cáceres, Luis René
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Publication Date:
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November 01, 2006
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Electronic Access:
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Free Full text
(PDF file size is 650KB).
Use the free
Adobe Acrobat Reader
to view this PDF file
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
Family remittances are important for El Salvador's economy. This paper analyzes the impact of remittances on El Salvador's economy and the spillover effects on the other Central American countries. A vector autoregression (VAR) model is formulated, consisting of real and monetary variables. The results suggest that in, El Salvador, remittances lead to decreases in economic activity, international reserves, and money supply and increases in the interest rate, imports, and consumer prices. This underscores the need for reorienting economic policy in El Salvador to promote the use of remittances in capital formation activities to maximize the benefit of remittances.
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Order a print copy
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Series:
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Working Paper No. 06/250
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Subject(s):
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Workers remittances | El Salvador | Economic indicators | Economic policy | Capital formation | Economic models
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Author's Keyword(s):
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Remittances | mechanism of transmission |
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English
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Publication Date:
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November 01, 2006
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ISBN/ISSN:
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0 / 1934-7073
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Format:
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Paper
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Stock No:
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WPIEA2006250
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Pages:
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30
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Price:
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US$18.00 )
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Please address any questions about this title to
publications@imf.org
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