Diaspora transfers and economic volatility

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Munich Personal RePEc Archive

Diaspora transfers and economic volatility

Jellal, Mohamed

Al Makrîzi institut D’économie, Rabat , Morocco

12 July 2014

Online at https://mpra.ub.uni-muenchen.de/57288/

MPRA Paper No. 57288, posted 13 Jul 2014 23:01 UTC

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𝑈 = 1 − 𝛽 𝐶_𝑀^−𝛿 +𝛽𝐶_𝐹^−𝛿 ⁻

1 𝛿

𝐶_𝑀 = 𝑊 − 𝑇 𝐶_𝐹 = 𝑤 +𝑇 𝐶_𝑀 𝑊

𝐶_𝐹

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𝑤 𝑇

𝑈 = 1− 𝛽 𝐶_𝑀^−𝛿 +𝛽𝐶_𝐹^−𝛿 ⁻

1 𝛿

𝐶_𝑀 = 𝑊 − 𝑇 𝐶_𝐹 = 𝑤 + 𝑇

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𝑇^∗ = ^{𝑊−𝜑𝑤}

1+𝜑 𝜑 = ^𝛽

1−𝛽

−₁₊¹_𝛿

= ¹^−𝛽

𝛽

1 1+𝛿

𝛽

𝑈 = 1 − 𝛽 𝐶_𝑀^−𝛿 +𝛽𝐶_𝐹^−𝛿 ⁻

1 𝛿

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1 1+𝛿

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𝑌 = 𝐴(𝐹 )𝐾^𝛼𝐿¹^−𝛼

𝐹 = 𝑓 + 𝜖 𝑓 𝜖

𝜖~𝑁(0,𝜎²)

𝐹 = 𝑓 −0.5𝜌𝜎² 𝜌 𝜎²

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𝑌 = 𝐴(𝑓 − 0.5𝜌𝜎²)𝐾^𝛼𝐿¹^−𝛼

𝑤 = ^𝜕𝑌

𝜕𝐿 = ^𝜕

𝜕𝐿 (𝐴 𝑓 −0.5𝜌𝜎² 𝐾^𝛼𝐿¹^−𝛼)

𝑤 = ^𝜕𝑌

𝜕𝐿 = 1 − 𝛼 𝐴(𝑓 −0.5𝜌𝜎²) ^𝐾

𝐿 𝛼

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𝑇^∗ = ^𝑊−𝜑¹^{−𝛼 𝐴}⁽^𝑓−^0.5^𝜌𝜎

2) ^𝐾_𝐿 ^𝛼

1+𝜑 𝜑 = ¹^−𝛽

𝛽

1 1+𝛿

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𝜕𝑇^∗

𝜕𝑓 = −𝜑 1 − 𝛼 𝐴′(𝑓 − 0.5𝜌𝜎²) 𝐾𝐿 ^𝛼

1 + 𝜑 < 0

𝜕𝑇^∗

𝜕𝜎² =

0.5𝜌𝜑 1− 𝛼 𝐴′(𝑓 −0.5𝜌𝜎²) 𝐾𝐿 ^𝛼

1 +𝜑 > 0

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