Abstract

SANTOS-MUNGUIA, René Javier  and  PEREZ, Juan Miguel. Effect of workers' remittances on international reserves, economic growth and the real exchange rate index in Honduras. Cuad. Econ. [online]. 2020, vol.39, n.81, pp.703-729. ISSN 0121-4772.  https://doi.org/10.15446/cuad.econ.v39n81.76893.

The study analyses the effect of international remittances in Honduras on the Monthly Economic Activity Index (IMAE) as a proxy measure of economic growth, international reserves and the Effective Real Exchange Rate Index (Itcer). Using data from time series with monthly periodicity from December 2001 to December 2016, the model of Vector Autoregressive (VAR) is formulated and results are presented in the form graphs of the Impulse Response Function (IRF). The finding shows negative responses from IMAE and Itcer and a positive response from international reserves in the medium term.

JEL: C20; C22; F24.

Keywords : Remittances; IMAE; international reserves; Itcer; VAR.

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