Determinants of the remittances sent to Mexico 1980-2022: was there a structural change?
Adrián Jiménez-Gómez,
Héctor Flores Márquez
Abstract:Objective: We identify a new long-term relationship between remittances, Mexico’s GDP, the United States Industrial Production Index, and the real exchange rate.Methodology: For a quarterly sample from 1980 to 2022, we identified a structural break on the 3rd quarter of 2002. We divided the initial sample into two subsamples in order to estimate the corresponding cointegration vectors.Results: The cointegration vector for the second subsample has two important changes as compared to that of the first subsample… Show more
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