We present a Kaldor-Thirlwall theoretical and empirical framework on the basic driving forces of the behaviour of productivity and economic development in the long-run. By calculating the so- called Thirlwall equation, the main contribution of our research is to examine whether Brazil has been...

We present a Structuralist-Keynesian theoretical approach on the determinants of the real exchange rate (RER) for open emerging economies. Instead of macroeconomic fundamentals, the long-term trend of the real exchange rate level is better determined not only by structural forces and long-term...

We present a Structuralist-Keynesian theoretical approach on the determining factors of the real exchange rate for open emerging economies. Instead of macroeconomic fundamentals, the long-term trend of the real exchange rate level is better determined not only by structural forces and long-term...

The periods of fast growth in the Brazilian economy from the post-war until the end of the 1970s have been constrained by imbalances in the foreign sector. We propose in this paper a model, based on Kaldor, where capital accumulation, technological gap and long run external constrain are...

Inflation targeting and price-making in monetary economies: is it possible to conciliate growth with price stability? - Recently a number of countries have adopted explicit inflation targets as a guide for policy since a numerical target is attractive for anchoring inflation expectations....