Araujo, Ricardo Azevedo (2011): New insights from a structural economic dynamic approach to balance of payments constrained growth.
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In this paper it is shown that once-for-all variations in the level of the exchange rate may play an important role in the sectoral composition of the economy and this fact has important implications in terms of a disaggregated version of the Thirlwall’s law even if the argument of the quantitative unimportance of relative price movements holds. The growth rate of a country is then shown to be affected by once-for-all movements in the level of nominal exchange rates and the concept of a natural exchange rate is introduced.
|Item Type:||MPRA Paper|
|Original Title:||New insights from a structural economic dynamic approach to balance of payments constrained growth|
|Keywords:||Structural Economic Dynamics, Thirlwall’s law, Exchange rates|
|Subjects:||O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O41 - One, Two, and Multisector Growth Models
F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F43 - Economic Growth of Open Economies
|Depositing User:||Ricardo Araujo|
|Date Deposited:||16. Apr 2011 14:06|
|Last Modified:||23. Apr 2015 22:30|
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