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Family remittances are important for El Salvador's economy. This paper analyzes the impact of remittances on El Salvador's economy and the spillover effects on the other Central American countries. A vector autoregression (VAR) model is formulated, consisting of real and monetary variables. The results suggest that in, El Salvador, remittances lead to decreases in economic activity, international reserves, and money supply and increases in the interest rate, imports, and consumer prices. This underscores the need for reorienting economic policy in El Salvador to promote the use of remittances in capital formation activities to maximize the benefit of remittances.

El Salvador -- Economic conditions -- 1945- -- Econometric models. --- El Salvador -- Economic policy -- Econometric models. --- Electronic books. -- local. --- Emigrant remittances -- El Salvador -- Econometric models. --- Monetary policy -- El Salvador -- Econometric models. --- Finance --- Business & Economics --- International Finance --- Emigrant remittances --- Monetary policy --- Econometric models. --- El Salvador --- Economic conditions --- Economic policy --- Monetary management --- Immigrant remittances --- Remittances, Emigrant --- Salvador, El --- República de El Salvador --- Republic of El Salvador --- République d'El Salvador --- Salvador --- Сальвадор --- Республика Эль-Сальвадор --- Respublika Ėlʹ-Salʹvador --- 萨尔瓦多 --- Sa'erwaduo --- 萨尔瓦多共和国 --- Sa'erwaduo Gongheguo --- אל סלבדור --- אל סלודור‏ --- Currency boards --- Money supply --- Foreign exchange --- Central America (Federal Republic) --- Banks and Banking --- Exports and Imports --- Foreign Exchange --- Money and Monetary Policy --- Remittances --- Trade: General --- Monetary Policy --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- International economics --- Banking --- Monetary economics --- Currency --- Imports --- International reserves --- Monetary base --- Real exchange rates --- International finance --- Foreign exchange reserves