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This paper extends the balance-of-payments constraint on growth known as Thirlwall's law to incorporate unbalanced trade and debt accumulation. Assuming that small open economies face a liquidity constraint, the text shows the growth and real-exchange-rate policy rules consistent with a stable...
Persistent link: https://www.econbiz.de/10005200523
This paper presents the main issues involved in estimating potential output. Theobjective is to describe the alternative methods and analyze their application andimplications for growth forecasts and macroeconomic policy in Brazil. The textemphasizes the determinants of potential output under...
Persistent link: https://www.econbiz.de/10004970562
This paper presents the main issues involved in estimating potential output. The objective is to describe the alternative methods and analyze their application and implications for growth forecasts and macroeconomic policy in Brazil. The text emphasizes the determinants of potential output under...
Persistent link: https://www.econbiz.de/10011261301
This paper presents a one-sector model where investment and autonomous expenditures determine the growth rate of income. The analysis starts with the dynamics of demand-led growth and the interaction between investment and autonomous expenditures. Since by definition investment determines the...
Persistent link: https://www.econbiz.de/10005795526
This paper analyzes the relation between international liquidity and growth for Brazil in 1966-2000. Defining the former as the ratio of foreign reserves to foreign (interest-bearing) debt, the objective is to build a model connecting growth with international liquidity, and then check whether...
Persistent link: https://www.econbiz.de/10005696096
This paper presents a structuralist post-Keynesian analysis of trade adjustment in Brazil. Based on the concept of the balance-of-payments (BoP) constraint on growth, the paper investigates the relationship between income growth and real-exchange-rate devaluation necessary to adjust trade to a...
Persistent link: https://www.econbiz.de/10005685313
Persistent link: https://www.econbiz.de/10002939603
Persistent link: https://www.econbiz.de/10002998702
This paper presents the main issues involved in estimating potential output. The objective is to describe the alternative methods and analyze their application and implications for growth forecasts and macroeconomic policy in Brazil. The text emphasizes the determinants of potential output under...
Persistent link: https://www.econbiz.de/10012024062
Persistent link: https://www.econbiz.de/10001651516