Soukiazis, Elias; Cerqueira, Pedro André; Antunes, Micaela - In: Economic Modelling 40 (2014) C, pp. 334-341
Thirlwall's Law (Thirlwall, 1979) considers that growth can be constrained by the balance-of-payments when the current account is in permanent deficit. The law focuses on external imbalances as impediments to growth and does not consider the case where internal imbalances emerging from budget...