Remittances have greatly increased during recent years, becoming an important and reliable source of funds for many developing countries. Therefore, there is a strong incentive for receiving countries to attract more remittances, especially through formal channels. One way of doing so is to...

This paper analyzes the empirical link between asset prices, consumption and the trade balance using a global macroeconometric model developed by Pesaran, Schuermann, and Weiner (2004). The model is estimated for 29 countries with quarterly data over the period 1981Q1 - 2006Q4. Motivated by...

Migration flows are shaped by a complex combination of self-selection and out-selection mechanisms. In this paper, we analyze how existing diasporas (the stock of people born in a country and living in an another one) affect the size and human-capital structure of current migration flows. Our...

We argue that the failure to disentangle the evolution of the Canadian currency and energy and commodity prices from the US currency leads to potential wrong conclusions regarding the case of a Dutch disease in Canada. We propose a new approach aimed at extracting currency components and energy...

In this paper, we analyze the e¤ectiveness of the direct central bank interventions using a new effectiveness criterion. To this aim, we investigate the e¤ects of central bank interventions (CBI) in a noise trading model with chartists and fundamentalists. We first estimate a model in which...

Empirical research on strategic alliances has focused on the idea that alliance partners are selected on the basis of social capital considerations. In this paper we emphasize instead the role of complementary knowledge stocks (broadly defined) in partner selection, arguing not only that...

This paper reviews the existing literature on the impact of migrants networks on the patterns of international migration. It covers the theo- retical channels at stake in the global effect of the networks. It identifies the key issues, namely the impact on size, selection and concentration of...

This paper analyzes the impact of networks on the structure of international migration flows. In particular, we investigate whether diaspora externalities are dif- ferent across education levels and gender. Using new data including both dimensions, we analyze the respective impact of networks on...

Existing migrant networks play an important role in explaining the size and structure of immigration flows. They affect the net benefits of migration by reduc- ing assimilation costs (’self-selection channel’) and by lowering legal entry barriers through family reunification programs...