In countries where per capita income is high the price level is higher than the level observed in countries where per capita income is low. This phenomenon is associated with real exchange rate appreciation in the rich countries and with the real exchange rate depreciation in the poor countries,...

Ricardian, ECLAC-UN (CEPAL) and Neo-Schumpeterian schools of Economic Thought assume that there are productivity differentials across economies. This paper intends to analyze the power of intertemporal trade neoclassical model to explain the less developed countries' intertemporal balance of...

One of the main socioeconomic problems observed in most countries – particularly in less developed countries – is the presence of high income inequality and poverty level. Several empirical works have attempted to analyze their major determinants as well as their effect on some indicators...