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Mr. Serdar Sayan
Workers' remittances are often argued to have a tendency to move countercyclically with the GDP in recipient countries since migrant workers are expected to remit more during down cycles of economic activity back home. Yet, how much to remit is a complex decision involving other factors, and different variables driving remittance behavior are differently affected by the state of economic activity over the business cycle. This paper investigates the behavior of workers' remittances flows into 12 developing countries over their respective business cycles during 1976-2003 and finds that countercyclicality of receipts is not commonly observed across these countries.
Tigran A. Melkonyan, Mr. David A. Grigorian, and J. Scott Shonkwiler

argued by some, more educated migrants are likely to remit less because their migration is more often of a permanent nature (e.g., Faini, 2003 ). Closeness of family ties could give a boost to both the self-interest and the altruistic motives and have different implications for remittance behavior across countries (e.g., Van Dalen et al ., 2005 , and Sana and Massey, 2005 ). Van Dalen et al . (2005) find different patterns across some countries in the Middle East: in Egypt, the presence of a spouse is a strong factor behind remittances, while in Morocco what

Tigran A. Melkonyan and Mr. David A. Grigorian
The paper explicitly models the dynamic strategic aspects of the interaction between the migrant and the remittance-receiving relative(s), with the migrant behaving as a Stackelberg leader. It is also different from other formalizations of remittance behavior in its treatment of the two parties' interaction to realize potential gains from exchange. We demonstrate that when the migrant and the relative(s) cooperate to maximize the joint utility of the household, this leads to higher level of remittances as well as investment and hours worked by the relative(s). We use data from Armenia to test our predictions regarding implications of remittances flows on behavior of receiving households. Consistent with our predictions, remittance-receiving households work fewer hours and spend less on the education of their children. While saving more, these households are not leveraging their savings to borrow from the banking system to expand their business activities. This evidence suggests that the benefits of remittances might be overstated and emphasizes the importance of measuring their impact in a general- rather than a partial-equilibrium context.
Tigran A. Melkonyan and Mr. David A. Grigorian

family in Armenia but remit money to their distant relatives or friends. Thus, we observe a sizable amount of (out-of-household) transfers not directly linked with migration. The contribution of this paper to the remittances literature is twofold. First, we present a model of remittance behavior which explicitly models the dynamic strategic aspects of the interaction between the migrant and the remittance-receiving relative(s). In addition, we consider the scenario where the two parties can devise a self-enforcing agreement to implement choices that maximize their

Zsoka Koczan and Franz Loyola

). Note: Pew Research Center tabulations of 1990 Census and 2013 American Community Survey data. Numbers may not sum to 100 due to rounding. Mexican immigrants are people born in Mexico to two parents who were not US citizens. Percent unless noted otherwise. V. Estimation strategy The paper starts off by documenting who receives remittances – how the socioeconomic characteristics of remittance-receiving households differ from those of non-remittance-receiving households. We then examine the determinants of remittance behavior by income decile in order to

Connel Fullenkamp, Mr. Thomas F. Cosimano, Michael T. Gapen, Mr. Ralph Chami, Mr. Peter J Montiel, and Mr. Adolfo Barajas

element introduces well-known economic issues concerning interactions among family members and fuels the uniqueness of remittance behavior. As Chapter 4 discusses in greater depth, the appropriate foundation for understanding remittances originates with Becker’s (1974) economics of the family, which, indeed, underlies much of the research on the microeconomic implications of remittances found in the literature today. The relationship between the remitter and his or her family can generally be characterized in two ways: as altruism, in which remittances may

Ms. Huidan Huidan Lin
This paper analyzes the determinants of remittances to Tonga. The results indicate that macroeconomic conditions in remitting countries and exchange rate fluctuations influence remittances. In particular, remittances growth falls when the Tongan c