The Macroeconomic Consequences of Remittances

Table 1

Model calibration values.

𝛼=0.4	𝛽=0.988	𝛿=0.025	𝐻=0.25	𝜈=−0.086	𝜐=0.08
𝜗=0.018	𝑠=3	𝜃=1.045	𝜙=0.9	𝜌𝜃=0.19	𝜎𝜃=0.0465
𝜏=0.8	𝜉=3	𝑔=1.04	𝜎=0.99	𝜌𝑔=0.96	𝜎𝑔=0.14
𝜑=0.009				𝜌𝑧=0.95	𝜎𝑧=0.00816