THE IMPACT OF THE US RECESSION ON IMMIGRANT REMITTANCES IN CENTRAL AMERICA

2012 ◽  
Vol 03 (03) ◽  
pp. 1250020 ◽  
Author(s):  
KARLA BORJA
Keyword(s):  
Interest Rates ◽  
Central America ◽  
Economic Recession ◽  
The United States ◽  
Central American ◽  
Housing Crisis ◽  
Substantial Impact ◽  
Us Economy ◽  
The Us ◽  
The Impact

The United States (US) economic recession has considerably affected employment among its immigrant Hispanic community, and as a consequence, remittances to Central America have plunged more than in any other region in the world. This paper provides evidence that the US housing crisis and the subsequent economic recession have affected the Central American region's Gross Domestic Product (GDP) beyond the traditional means of exports, exchange rates, and interest rates, namely, through remittances as well. Using a Vector Autoregression (VAR) model, we examine the case of El Salvador and find that major disturbances to the US economy have an immediate and substantial impact on remittances to this Central American nation.

Securing Central America Against Communism: The United States and the Modernization of Surveillance in the Cold War

1999 ◽  
Vol 41 (1) ◽  
pp. 1-30 ◽  
Author(s):  
Robert H. Holden
Keyword(s):  
United States ◽  
Cold War ◽  
Central America ◽  
Formation Process ◽  
The United States ◽  
Central American ◽  
Sponsored Programs ◽  
The Us ◽  
The Cold War

The US.-sponsored programs of military and police collaboration with the Central American governments during the Cold War also contributed to the surveillance capacity of those states during the period when the Central American state formation process was being completed. Guatemala is used as a case study. Washington’s contribution was framed by the conventional discourse of “security against communism” but also by an underlying technocratic ethos in which “modernization” and “security” were higher priorities than democratization.

scholarly journals Ganged Up On: How the US immigration system penalises and fails to protect Central American minors who are trafficked for criminal activity by gangs

2021 ◽  
pp. 104-122
Author(s):  
Katherine Soltis ◽  
Madeline Taylor Diaz
Keyword(s):  
Central America ◽  
Criminal Activity ◽  
The United States ◽  
Central American ◽  
Street Gangs ◽  
Mara Salvatrucha ◽  
The Us ◽  
United States Immigration ◽  
States Immigration ◽  
Us Immigration

This article addresses the failures of the United States immigration system to protect Central American minors who were trafficked for exploitation in criminal activities by gangs. In particular, it focuses on the ways in which the US immigration system denies humanitarian protection to Central American minors who were forced to participate in criminal activity by the Mara Salvatrucha (MS-13) and 18th Street gangs, and instead detains them. The article will examine this trend in the context of a larger proclivity to criminalise immigration in the US, particularly minors fleeing violence in Central America. We draw upon our experience representing Central American minors in their applications for humanitarian immigration relief to highlight how the US immigration system fails to protect this vulnerable population and penalises these children for their own victimisation.

scholarly journals Statistical Analysis of the Performance of a Big and Open Economy: The Case of the U.S.

2018 ◽  
pp. 10-17
Author(s):  
O. V. Zhuravliov ◽  
О. М. Simachova
Keyword(s):  
United States ◽  
Open Economy ◽  
Developing Economies ◽  
Negative Impact ◽  
The United States ◽  
Us Economy ◽  
The Us ◽  
The World ◽  
Macroeconomic Indicators ◽  
The Impact

The US economy is one of the richest and most diversified economies in the world and keeps its leadership in the global economy for the past 100 years. The United States is a global leader in computer technology, pharmaceuticals and the manufacture of medical, aerospace and military equipment. And although services make up about 80% of GDP, the US remains the second largest producer of industrial goods in the world and is a leader in research and development. President Donald Trump was elected in November 2016, promising a big gap with his predecessor’s regulatory, tax and trade policies. Therefore, the current socio-economic status of the USA and the possible ways of its development in the future are interesting for studying the impact on other economies, in particular, on the Ukrainian economy and the search for new and optimal ways of developing relations between the United States and Ukraine. Key macroeconomic indicators of the US economy in 2011–2018 are analyzed, demonstrating the influence of Donald Tramp’s new policy on changes in the indicators of the economy, the labor market, trade, etc., as well as possible ways of development in the coming years. The review of key macroeconomic indicators gives grounds for classifying the American economy as healthy one. Rates of GDP growth will remain in the range of 2 to 3%. These rates of growth in the world’s largest economy are callable to ensure a substantial increase in the global activity. But uncertainties in the politics may hinder global growth and have clearly negative impact on the investment growth in developed and developing economies.

Fed policy move will mean lower rates for even longer

2020 ◽  
Keyword(s):  
Interest Rates ◽  
Economic Activity ◽  
Yield Curve ◽  
Balance Sheet ◽  
Content Type ◽  
Us Economy ◽  
The Us ◽  
The Impact

Significance The Fed reduced interest rates to 0-0.25% and almost doubled the size of its balance sheet to offset some of the impact of the COVID-19 pandemic on the US economy but clear signs of economic activity rebounding are now prompting the Fed to look further out. Impacts The Fed will reassure markets that there will be no rate increases under virtually any circumstances in the next few years. Eventually the Fed will consider reducing the size of its balance sheet; this will require adroit management to avoid worrying investors. There appears to be little support at the Fed for negative rates; adopting yield-curve control remains possible if the recovery disappoints.

scholarly journals Trends in OMI NO<sub>2</sub> observations over the US: effects of emission control technology and the economic recession

2012 ◽  
Vol 12 (6) ◽  
pp. 15419-15452 ◽  
Author(s):  
A. R. Russell ◽  
L. C. Valin ◽  
R. C. Cohen
Keyword(s):  
Power Plants ◽  
Economic Recession ◽  
The United States ◽  
Retrieval Algorithm ◽  
Vertical Column ◽  
Large Power ◽  
Mobile Sources ◽  
The Us ◽  
Light Duty Vehicle ◽  
The Impact

Abstract. Observations of tropospheric NO2 vertical column densities over the United States (US) for 2005–2011 are evaluated using the OMI Berkeley High Resolution (BEHR) retrieval algorithm. We assess changes in NO2 on day-of-week and interannual timescales to assess the impact of changes in emissions from mobile and non-mobile sources on the observed trends. We observe consistent decreases in cities across the US, with an average total reduction of 32 ± 7%. Changes for large power plants have been more variable (−26 ± 12%) due to regionally-specific regulation policies. An increasing trend of 10–20% in background NO2 columns in the Northwestern US is observed. We examine the impact of the economic recession on emissions and find that decreases in NO2 column densities over cities were moderate prior to the recession (−6 ± 5 % yr−1), larger during the recession (−8 ± 5 % yr−1), and then smaller after the recession (−3 ± 4 % yr−1). Differences in the trends observed on weekdays and weekends indicate that prior to the economic recession, NO2 reductions were dominated by technological improvements to the light-duty vehicle fleet but that a decrease in diesel truck activity has dominated emission reductions since the recession. We use the satellite observations to estimate a 34% decrease in NO2 from mobile sources in cities for 2005–2011 and use that value to infer changes in non-mobile sources. We find that reductions in NO2 from non-mobile sources in cities have been more variable than NO2 reductions from mobile sources (−10 ± 13%).

scholarly journals Regional Redistribution through the US Mortgage Market

2016 ◽  
Vol 106 (10) ◽  
pp. 2982-3028 ◽  
Author(s):  
Erik Hurst ◽  
Benjamin J. Keys ◽  
Amit Seru ◽  
Joseph Vavra
Keyword(s):  
Interest Rates ◽  
Default Risk ◽  
The United States ◽  
Mortgage Market ◽  
Interest Rate Policy ◽  
Us Economy ◽  
The Us ◽  
Local Risk ◽  
Regional Shocks ◽  
Government Sponsored Enterprises

Regional shocks are an important feature of the US economy. Households' ability to self-insure against these shocks depends on how they affect local interest rates. In the United States, most borrowing occurs through the mortgage market and is influenced by the presence of government-sponsored enterprises (GSE). We establish that despite large regional variation in predictable default risk, GSE mortgage rates for otherwise identical loans do not vary spatially. In contrast, the private market does set interest rates which vary with local risk. We use a spatial model of collateralized borrowing to show that the national interest rate policy substantially affects welfare by redistributing resources across regions. (JEL E32, E43, G21, G28, L32, R11, R31)

Remittances to grow in Mexico and Central America

2016 ◽  
Keyword(s):  
Latin America ◽  
El Salvador ◽  
Central America ◽  
Private Consumption ◽  
Central American ◽  
Single Digit ◽  
Content Type ◽  
Us Economy ◽  
The Us

Subject With the dollar strengthening against many local currencies, remittances are on the rise. Significance The strengthening of the dollar has seen remittance figures in Mexico and Central America rise recently. While the weight of remittances varies greatly across Latin America, Mexico is by far the most important recipient in the region. However, the weight of remittance transfers in the Mexican economy only has a significant impact in certain areas, while in several Central American countries, notably El Salvador, they are vital to overall private consumption. Impacts As the US economy gathers strength, remittances should continue to grow, albeit at single-digit rates. While the economic relevance of remittances should decline in Mexico, it will continue increasing in Central America. Governments are faced with the challenge of redirecting the use of remittances from spending to investment.

Immigration in American Economic History

2018 ◽  
pp. 100-118
Author(s):  
Joseph P. Ferrie
Keyword(s):  
United States ◽  
Human Capital ◽  
Seventeenth Century ◽  
Economic History ◽  
Manufacturing Sector ◽  
The United States ◽  
Us Economy ◽  
The Us ◽  
Initial Settlement ◽  
The Impact

Immigration has been a powerful force is the US economy right from the period of initial settlement in the early seventeenth century. It has been instrumental in building the nation’s infrastructure, transforming its manufacturing sector, and growing its labor force, as it transferred human capital from where it was initially generated (abroad) to where it was productively employed (the United States). This chapter surveys the impact on the economy, on the immigrants themselves, and on the Americans they joined in four eras: (1) settlement (1600s–1700s); (2) the first “Great Wave” (1800–1890); (3) the second “Great Wave” (1890–1920s); and (4) the post-1965 period.

Keynesianism and the Crisis

2013 ◽  
pp. 457-485
Author(s):  
Lance Taylor
Keyword(s):  
Interest Rates ◽  
The United States ◽  
Capital Inflows ◽  
Financial Assets ◽  
John Maynard Keynes ◽  
Debt Accumulation ◽  
Us Economy ◽  
The Us ◽  
The World ◽  
Ample Supply

Historically, financial crises have been commonplace. Why did the latest episode almost derail the world economy? The macroeconomics developed by John Maynard Keynes and his close followers provides the only plausible set of answers, including rising income inequality that spilled over into debt accumulation at the same time as household consumption rose, low real interest rates, massive expansion of financial assets and liabilities as investors borrowed heavily (increased leverage) to buy assets with rising prices, and an ample supply of imports and capital inflows from the rest of the world to the United States. In an accommodating political economy environment these factors linked the real and financial sides of the US economy to create the crisis.

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