PURE JOINT PRODUCTION, INCOME DISTRIBUTION, EMPLOYMENT AND THE EXCHANGE RATE

Theodore Mariolis ()

Metroeconomica, 2008, vol. 59, issue 4, 656-665

Abstract: This paper deals with an open economy with heterogeneous capital and linear processes of pure joint production from a long‐period perspective. It is shown that: (1) an effective exchange rate change has ambiguous effects on the distribution of income and the competitiveness of domestic output; (2) the matrix of super‐multipliers linking exports to gross output is not always uniquely defined; and (3) the volume of exports and the volume of total employment may be inversely related, even if prices and distribution do not change.

Date: 2008
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https://doi.org/10.1111/j.1467-999X.2008.00320.x

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