Artículo
The Argentine economy through the lens of an adapted Mundell–Fleming model for small open peripheral economies
Fecha de publicación:
05/2024
Editorial:
Elgar
Revista:
Review of Keynesian Economics
ISSN:
2049-5323
e-ISSN:
2049-5331
Idioma:
Inglés
Tipo de recurso:
Artículo publicado
Clasificación temática:
Resumen
This paper investigates the limits fiscal and monetary policies face in small openeconomies, where economic growth can be constrained by the balance of payments.To do so, we proceed in three steps. First, we review some usually neglected stringentassumptions of the Post-Keynesian interpretation of the IS-LM-BP model, regarding theroles played by the exchange rate and the interest rate in re-establishing external equilibrium. Second, we adapt this model to consider the specificities of peripheral economies. Third, we illustrate the model’s functionality and implications, drawing upon the experience of the Argentine economy, a country where the external sector has recurrently constrained output growth.
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Articulos(SEDE CENTRAL)
Articulos de SEDE CENTRAL
Articulos de SEDE CENTRAL
Citación
Dvoskin, Ariel; Feldman, Germán David; Torchinsky Landau, Matías; The Argentine economy through the lens of an adapted Mundell–Fleming model for small open peripheral economies; Elgar; Review of Keynesian Economics; 12; 2; 5-2024; 239-264
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