The Exchange Rate, Diversification, and Distribution in a Modified Ricardian Model with a Continuum of Goods

Several recent empirical and theoretical studies have revived interest in the relationship between the level of the exchange rate and economic development. This paper develops a dynamic model based on the Ricardian framework with a continuum of goods to consider the issue from a somewhat different perspective. While directly suppressing the real wage could also lead to diversification, what makes nominal devaluation a particularly useful tool is that it makes it possible to expand domestic profits while limiting internal distributional conflict and the ensuing negative effects on development

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Year of publication:	2012
Authors:	Razmi, Arslan M.
Publisher:	[2012]: [S.l.] : SSRN
Subject:	Wechselkurs \| Exchange rate \| Außenwirtschaftstheorie \| International economics \| Diversifikation \| Diversification \| Einkommensverteilung \| Income distribution

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