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Journal of Economic Integration 2018 September;33(3) :514-537.
DOI: https://doi.org/10.11130/jei.2018.33.3.514
Migration, Jobs, and Real Exchange Rates in the Philippines
Alberto Chong 
Georgia State University, Atlanta, United States
Universidad del Pacífico, Lima, Perú
Corresponding Author: Alberto Chong ,Tel: 404-413-0201, Fax: 404-413-0145, Email: achong6@gsu.edu
Copyright ©2018 Journal of Economic Integration
ABSTRACT
This study tests whether exchange rate appreciation due to migration is tempered by the hiring of part-time workers. Quarterly data from 1994 to 2015 for the Philippines are employed. We find that not only increase in remittances, but also increase in migration appreciates real exchange rate. The results also show that underemployment tends to depreciate the exchange rate, which implies that the hiring structure does have a role on the long run real effective exchange rate.

JEL Classification
F24: Remittances
F31: Foreign Exchange
O10: General
Keywords: Migration | Remittances | Exchange rate | the Philippines | Cointegration
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