“…Among other sources of remittances, the most crucial remain remittances linked with labor and student migration (Mishchuk et al, 2019;Oliinyk et al, 2021). These financial flows (or their decrease in case of permanent migration of economically active population) can significantly affect the dynamics of macroeconomic processes and results, like labour market dynamics and communication processes (Andersson, 2019), level of life and inequality (Al-Srehan, 2020), fiscal revenues and social expenditures (Cristea & Grabara, 2019;Mishchuk et al, 2018;Vučković & Škuflić, 2021). While some studies found remittances to be significant in promoting economic growth, household welfare, income equality, and poverty reduction in many countries, others show different ways around, depending on the context of the countries, methodology, and data employed in their studies.…”