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dc.titleRemittances Payments through Central Banks: An Application to the Central American Countries Exchange Rates
dc.contributor.authorVentosa-Santaulària, Daniel
dc.contributor.authorRodríguez Caballero, Carlos Vladimir
dc.contributor.authorLópez, Arnoldo
dc.contributor.orgunitCountry Department Central America, Haiti, Mexico, Panama and the Dominican Republic
dc.coverageHonduras
dc.coverageCosta Rica
dc.coverageNicaragua
dc.coverageEl Salvador
dc.coverageMexico
dc.coverageGuatemala
dc.coveragePanama
dc.coverageCentral America
dc.date.available2020-02-04T00:00:00
dc.date.issue2020-02-04T00:00:00
dc.description.abstractThis paper analyzes the effect on the level and volatility of the Central American countries' exchange rates of transferring remittances through central banks. Given the importance of remittances for these economies, transferring a percentage of remittances through central banks diminishes the supply of dollars in the local currency market. This reduces the volatility and depreciates slightly the exchange rate, along with the need of the central bank to intervene in the currency market.
dc.format.extent30
dc.identifier.doihttp://dx.doi.org/10.18235/0002177
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/Remittances_Payments_through_Central_Banks_An_Application_to_the_Central_American_Countries_Exchange_Rates_en.pdf
dc.language.isoen
dc.mediumAdobe PDF
dc.publisherInter-American Development Bank
dc.subjectCentral Bank Money
dc.subjectMonetary Policy
dc.subjectMonetary Policy
dc.subjectRemittance
dc.subjectExchange Rate
dc.subject.jelcodeF31 - Foreign Exchange
dc.subject.jelcodeE58 - Central Banks and Their Policies
dc.subject.jelcodeF24 - Remittances
dc.subject.jelcodeE42 - Monetary Systems • Standards • Regimes • Government and the Monetary System • Payment Systems
dc.subject.keywordsRemittances; payment systems; Federal Reserve; central banks; exchange rate; Dutch disease; Central America
dc.typeTechnical Notes
idb.identifier.pubnumberIDB-TN-01864
idb.operationPN-P1143
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