Edward Elgar出版社
作者:J.S.L. McCombie
来源:[J].Review of Keynesian Economics, 2019, Vol.7 (4), pp.429-443EE
摘要:This paper reconsiders the argument first debated in the 1980s and revisited by Blecker (2016) and Razmi (2016), inter alios , that Thirlwall's law is nothing but a near-identity. It is shown theoretically and by simulation analysis that this proposition is erroneous. It is also ...
作者:Excellent Mhlongo , Kevin S. Nell
来源:[J].Review of Keynesian Economics, 2019, Vol.7 (4), pp.498-516EE
摘要:This paper re-evaluates the recent criticisms of ‘Thirlwall's law’ against the literature on growth transitions. The unpredictable nature of growth transitions in developing economies suggests that the evidence derived from single-regime regression models, on which critics h...
作者:Jesus Felipe , Matteo Lanzafame , Gemma Estrada
来源:[J].Review of Keynesian Economics, 2019, Vol.7 (4), pp.537-553EE
摘要:This paper analyses the performance of Indonesia's economy since the early 1980s using Thirlwall's balance-of-payments-constrained (BoPC) growth model, estimated in state-space form to take account of the varying nature of the income elasticities of demand for exports and imports...
作者:Gabriel Porcile , Giuliano Toshiro Yajima
来源:[J].Review of Keynesian Economics, 2019, Vol.7 (4), pp.517-536EE
摘要:Structuralists and Post-Keynesians share the perspective that in the long run economic growth is shaped by the income elasticity of exports and imports, and that such elasticities are a positive function of the degree of diversification and technological intensity of the pattern ...
作者:Ignacio Perrotini-Hernández , Juan Alberto Vázquez-Muñoz
来源:[J].Review of Keynesian Economics, 2019, Vol.7 (4), pp.444-462EE
摘要:The article draws together the analyses of the interaction between economic capacity (ec), the endogeneity of the natural growth rate (gn) and the growth rate consistent with balance-of-payments equilibrium (gtb) that constrains economic activity. We id...
作者:Gustavo Bhering , Franklin Serrano , Fabio Freitas
来源:[J].Review of Keynesian Economics, 2019, Vol.7 (4), pp.486-497EE
摘要:Thirlwall's law, given by the ratio of the rate of growth of exports to the income elasticity of imports is a key result of balance-of-payments-constrained long-run growth models with balanced trade. Some authors have extended the analysis to incorporate long-run net capital flow...
作者:A.P. Thirlwall
来源:[J].Review of Keynesian Economics, 2019, Vol.7 (4), pp.554-567EE
摘要:This paper considers how Thirlwall's balance-of-payments-constrained growth model has fared over the preceding 40 years. Issues dealt with include how the model fits into Harrod's closed-economy dynamic model; whether the model is a tautology; the role of the exchange rate and te...
作者:Esteban Pérez Caldentey , Juan Carlos Moreno-Brid
来源:[J].Review of Keynesian Economics, 2019, Vol.7 (4), pp.463-485EE
摘要:This paper extends the balance-of-payments-constrained (BoPC) growth model and Thirlwall's law to include the terms of trade with and without capital flows. Without capital flows a positive (negative) change in the terms of trade by improving (worsening) export performance can ce...


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