Bugamelli, Matteo; Francesco Patern� - Banca d'Italia - 2006
the increasingly large flows of workers� remittances can help reduce the probability of current account reversals. The … rationale for this stands in the great stability and low cyclicality of remittances as compared to other private capital flows …; these properties, combined with the fact that remittances are cheap inflows of foreign currencies, might reduce the …