A note on the political economy of exchange rates in Argentina: new and classical developmentalism re-evaluated

Author:

FIORITO ALEJANDRO1ORCID,VERNENGO MATÍAS2ORCID

Affiliation:

1. Universidad Nacional de Moreno, Argentina

2. Bucknell University, United States

Abstract

ABSTRACT The paper develops a model in which the relation between the real exchange rate and the real wage, in the context of conflictive income distribution, is made explicit. It is noted that the central bank tries to regulate the distributive relation exchange rate and real wages through the changes in the interest rate. The theoretical point is that, under certain circumstances, a relatively depreciated or high level of the real exchange rate might reduce real wages and have a negative impact on economic growth. The paper also provides some evidence for the Argentine case, and suggests that the Classical Developmentalist elasticity pessimism seems, in the case of Argentina, to be validated. Also, the use of the exchange rate as an instrument to bolster redistribution away from the working class, and to promote investment and growth is also not born in the data.

Publisher

FapUNIFESP (SciELO)

Subject

Political Science and International Relations,General Economics, Econometrics and Finance,Sociology and Political Science

Reference34 articles.

1. Computation and analysis of multiple structural change models;Bai J.;Journal of Applied Econometrics,2003

2. Tipo de cambio real y diversificación productive en América del Sur;Bernat G.,2015

3. Elasticidades de comercio de la Argentina para el período 1993-2008;Berretoni;Revista del CEI - Comeercio Exterior e Integración,2009

4. Ajustamento nos Mercados de Fatores, Raiz Unitária e Histerese na Economia Americana textos para discussão UFF-241;Braga J.,2008

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3