A gravity model of remittance determinants: evidence from Latin America and the Caribbean. Regional Studies. This paper constructs a microeconomic model of the motivation for remittances and uses it to explore the macroeconomic determinants. In addition, a new measure of bilateral remittances is used to estimate a gravity model of remittances for 27 Latin American and Caribbean countries and 18 industrialized countries. The results suggest remittances are motivated by a combination of altruism and self-interest, both of which are encapsulated by economic and non-economic variables.
McCracken, S., Ramlogan-Dobson, C., & Stack, M. M. (2017). A gravity model of remittance determinants: evidence from Latin America and the Caribbean. Regional studies, 51(5), 737-749. https://doi.org/10.1080/00343404.2015.1133904