Browsing by Author "Bondoc, Mariel Angelica M."
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Item Restricted The determinants of overseas Filipino workers' remittances: a comparison between macroeconomic and non-macroeconomic factors(2008-03) Bondoc, Mariel Angelica M.; Ovejera, Kim M.This paper investigates the different determinants of Overseas Filipino Workers' remittances. An existing model utilized in Latin American countries is employed to test the relevance of macroeconomic variables to remittances. Results show that remittances can only be partly explained by macroeconomic flows. This paper then discusses the seasonality and consumption behavior of recipient families as alternative explanation of the remittance behavior. Price indices of different commodities are utilized to capture consumption patterns of recipient households. Dummy variables for each quarter are used to ascertain seasonality of remittances. Results show that consumption patterns for some commodities correlate with remittances. Furthermore, results verify the seasonal trend of remittances.