Vargas-Silva, Carlos - In: Applied Financial Economics Letters 3 (2007) 6, pp. 359-363
This article uses 85 monthly time series from Mexico to study the macroeconomic impact of workers' remittances. The estimation approach is based on the two-step factor augmented vector autoregression methodology used by Bernanke et al. (2005). The results show that Mexico's inward remittances...