Remittances (what migrants send back to their home countries) are important
not only for the families who receive them but also for the poorest developing
countries. This book develops an Overlapping Generations model of
households with residences in two countries to explore how remittances may
be saved for retirement, used to finance investment in housing, schooling, or
for consumption. The book uses the estimation framework of Gruben and
McLeod (1998), and Mody and Murshid (2002) to study the impact of remittances
on Gross National Savings, Investment, and on school enrollments.
The results...