Beware of Emigrants Bearing Gifts : Optimal Fiscal and Monetary Policy in the Presence of Remittances »
Series: IMF Working Papers
Author(s): Michael Gapen , Thomas Cosimano , and Ralph Chami
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 March 2006
Keywords: Ramsey policies, optimal monetary policy, remittance, money growth, inflation, Financial Markets and the Macroeconomy, International Factor Movements And International Business,
This paper uses a stochastic dynamic general equilibrium model to investigate the influence of countercyclical remittances on the conduct of fiscal and monetary policy and trace their effects on real and nominal va...