Has the sovereign debt crisis changed the cyclicality of Portuguese remittances?

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dc.contributor.authorMartins, Patricia Sofia Figueiredopt_PT
dc.contributor.authorCorreia, Leonida Amaral Tomaspt_PT
dc.date.accessioned2020-10-12T13:46:40Z
dc.date.available2020-10-12T13:46:40Z
dc.date.issued2019
dc.description.abstractThis paper explores the cyclicality of remittances into Portugal from 1996 to 2015. Using bilateral correlations and econometric model regression approaches, we investigate if remittances are countercyclical or procyclical with Portuguese, French and Swiss outputs (France and Switzerland being the two main remitting countries). We also examine the ability of remittances to smooth macroeconomic shocks, and compare their role with other exter- nal financial sources. The empirical results suggest that the sover- eign debt crisis has changed the cyclicality of remittances from procyclical in relation to Portuguese GDP in the years before the crisis to countercyclical during the crisis period. This conclusion is valid regardless of the economic situation of home and host countries and is robust to the use of different statistical information to measure the business cycle of Portugal (GDP, private consumption, or unemployment rate). Thus, we conclude that remittances received by Portuguese households played an economic stabilization role in the crisis years.pt_PT
dc.identifier.otherhttps://doi.org/10.1080/02692171.2018.1511692
dc.identifier.urihttp://hdl.handle.net/10348/10129
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.relation.ispartofCETRAD - Centro de Estudos Transdisciplinares para o Desenvolvimentopt_PT
dc.rightsopen accesspt_PT
dc.subjectmigrationpt_PT
dc.subjectremittancespt_PT
dc.subjectcyclicalitypt_PT
dc.subjectsovereign debt crisispt_PT
dc.subjectPortugalpt_PT
dc.titleHas the sovereign debt crisis changed the cyclicality of Portuguese remittances?pt_PT
dc.typejournal articlept_PT
degois.publication.firstPage453pt_PT
degois.publication.issue3pt_PT
degois.publication.lastPage472pt_PT
degois.publication.locationReino Unidopt_PT
degois.publication.titleInternational Review of Applied Economicspt_PT
degois.publication.volume33pt_PT
dspace.entity.typePublicationen
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