The macroeconomic effects of migrants’ remittances in Moldova: a stock–flow consistent model
| hal.structure.identifier | Centre Émile Durkheim [CED] | |
| dc.contributor.author | LE HÉRON, Edwin | |
| hal.structure.identifier | Groupe de Recherche en Economie Théorique et Appliquée [GREThA] | |
| dc.contributor.author | YOL, Nicolas | |
| dc.date.created | 2019-04-01 | |
| dc.date.issued | 2019-04 | |
| dc.identifier.issn | 2052-7764 | |
| dc.description.abstractEn | Migrants’ remittances are an essential source of income in many developing countries. In this article, we build a post-Keynesian stock–flow consistent model adapted to Moldova, one of the top recipients of remittances. In addition to increasing household consumption, migrants’ transfers have strong effects on economic growth in Moldova. However, remittances are very sensitive to the economic conditions in migrants’ destination countries, especially since the 2008 global financial crisis. After including remittances in consumption behavior and lenders’ risk, we run simulations to show how shocks in migrants’ destination countries (that is, Europe and Russia) impact the Moldovan economy through fluctuations in remittances. First, the increasing instability of remittances explains a significant portion of the economic volatility experienced by Moldova. Second, the high level of imports implies a weak multiplier effect of remittances, leading to an unsustainable pattern of growth. | |
| dc.language.iso | en | |
| dc.subject.en | economy | |
| dc.subject.en | migration | |
| dc.subject.en | volatility | |
| dc.subject.en | remittances | |
| dc.subject.en | stock-flow consistent models | |
| dc.subject.en | Moldova | |
| dc.subject.en | business cycles | |
| dc.subject.en | Remittances | |
| dc.subject.en | Stock-flow consistent models | |
| dc.subject.en | Business cycles | |
| dc.subject.en | Migration | |
| dc.subject.en | Volatility | |
| dc.title.en | The macroeconomic effects of migrants’ remittances in Moldova: a stock–flow consistent model | |
| dc.type | Article de revue | |
| dc.identifier.doi | 10.4337/ejeep.2018.00039 | |
| dc.subject.hal | Sciences de l'Homme et Société/Economies et finances | |
| dc.subject.hal | Sciences de l'Homme et Société/Science politique | |
| dc.subject.jel | E - Macroeconomics and Monetary Economics/E.E1 - General Aggregative Models/E.E1.E12 - Keynes • Keynesian • Post-Keynesian | |
| dc.subject.jel | E - Macroeconomics and Monetary Economics/E.E3 - Prices, Business Fluctuations, and Cycles/E.E3.E32 - Business Fluctuations • Cycles | |
| dc.subject.jel | F - International Economics/F.F2 - International Factor Movements and International Business/F.F2.F22 - International Migration | |
| dc.subject.jel | F - International Economics/F.F2 - International Factor Movements and International Business/F.F2.F24 - Remittances | |
| dc.subject.jel | F - International Economics/F.F4 - Macroeconomic Aspects of International Trade and Finance/F.F4.F43 - Economic Growth of Open Economies | |
| bordeaux.journal | European Journal of Economics and Economic Policies | |
| bordeaux.page | 31 - 54 | |
| bordeaux.volume | 16 | |
| bordeaux.issue | 1 | |
| bordeaux.peerReviewed | non | |
| hal.identifier | halshs-01885949 | |
| hal.version | 1 | |
| hal.popular | non | |
| hal.audience | Non spécifiée | |
| hal.origin.link | https://hal.archives-ouvertes.fr//halshs-01885949v1 | |
| bordeaux.COinS | ctx_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.jtitle=European%20Journal%20of%20Economics%20and%20Economic%20Policies&rft.date=2019-04&rft.volume=16&rft.issue=1&rft.spage=31%20-%2054&rft.epage=31%20-%2054&rft.eissn=2052-7764&rft.issn=2052-7764&rft.au=LE%20H%C3%89RON,%20Edwin&YOL,%20Nicolas&rft.genre=article |
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