@article {194556,
	title = {Are Bilateral Remittances Countercyclical?},
	journal = {Open Economies Review},
	volume = {22},
	number = {1},
	year = {2011},
	pages = {1-16},
	abstract = {By putting together a relatively large data set on bilateral remittances of emigrants, this paper is able to shed light on the important hypothesis of smoothing. The smoothing hypothesis is that remittances are countercyclical with respect to income in the worker{\textquoteright}s country of origin (the recipient of the remittance), while procyclical with respect to income in the migrant{\textquoteright}s host country (the sender of the remittance).\&nbsp; The econometric results confirm the hypothesis.\&nbsp;},
	author = {Jeffrey Frankel}
}
