Um Modelo Dinâmico de Macroeconomia Aberta com Metas de Inflação, “Conflito Distributivo” e Equilíbrio na Conta Corrente
Eduardo Drumond () and
Gabriel Porcile ()
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Eduardo Drumond: Faculty of Economics, Universidade Federal do Paraná
No 109, Working Papers from Universidade Federal do Paraná, Department of Economics
The paper discusses the impacts of an inflation target regime on growth, distribution and stability in an open economy from a Post-Keynesian perspective. The model combines a conflicting claims theory of inflation, changes in the rate of capacity utilization and equilibrium in the external sector to show that in the long run monetary policy has a real impact on growth and employment – there exists a trade-off between the inflation rate and the growth rate. A monetary rule that takes into consideration equilibrium in current account is considered. It is shown that this rule can contribute to stability in the long run, to the extent that it hinders the possibility of an explosive growth in the stock of the external debt.
Keywords: Growth.; Foreign; debt.; Kaleckian; model; of; open; economy.; Stability.; Indebtedness. (search for similar items in EconPapers)
JEL-codes: E20 E50 F41 (search for similar items in EconPapers)
Pages: 13 pages
New Economics Papers: this item is included in nep-cba and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:fup:wpaper:0109
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