difference, international trade, remittances, and a heterogeneous workforce. We compare welfare under the observed levels of … Canada or Australia -- are better off due to greater product variety available in consumption and as intermediate inputs. In … flows -- such as Jamaica or El Salvador -- are also better off due to migration, but for a different reason: remittances …

In most destination countries, immigration policies are increasingly tilted toward the most skilled individuals … home thanks to a relatively larger flow of remittances. Skilled migrants typically earn relatively more and, ceteris … flow of remittances from skilled migrants. Hence, the sign of the impact of the brain drain on total remittances is an …

economy will be small. In this paper, we quantify the direct effect on real consumption of (1) unanticipated changes in … evaluate the evidence for asymmetries in the response of real consumption that would be expected, for example, if shifting … price shocks on the consumption of new domestically produced automobiles, is consistent with the small share of the U …

and consumption go down as well. Governments can offset terror by putting tax revenues into the production of security …, at the level of the death toll by about the same size as due to car accidents, is expected to decrease annual consumption …

extant research on consumption insurance find that people face substantial risks that they do not fairly pool. In theory, the … consumption and wealth accumulation of price-taking households in an economy with incomplete markets differs substantially from … this decomposition as an organizing framework to present four main findings: (a) the concavity of the consumption policy …

We develop a consumption-based present value relation that is a function of future dividend growth. Using data on … aggregate consumption and measures of the dividend payments from aggregate wealth, we show that changing forecasts of dividend …

market investment, and presents some new empirical evidence using a proxy for the log consumption-aggregate wealth ratio as a …

transmission, including the crowding-in of consumption and the `puzzle' of real exchange rate depreciation. Time series evidence …

This paper provides instrumental variables estimates of the response of aggregate private consumption to transitory … transitory shocks to aggregate output on private consumption in poor countries. …