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Title:Real exchange rates and the long-run effects of aggregate demand in economies with underemployment PDF Logo
Authors:Skott, Peter
Rapetti, Martin
Razmi, Arslan
Issue Date:2012
Series/Report no.:Working Paper, University of Massachusetts, Department of Economics 2012-06
Abstract:Successful economic development to a large extent derives from the mobilization of underemployed resources. Demand policy can play an important role. It is critical, however, to consider balance of payments constraints and to ensure an expansion of investment in the modern sector. A combination of investment promotion and exchange rate intervention may be required to achieve these goals.
Subjects:exchange rate
balance of payments
economic growth
inflation
aggregate demand
two-sector model
JEL:F43
O11
O41
Document Type:Working Paper
Appears in Collections:Working Papers, Department of Economics, University of Massachusetts

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