Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/286178 
Title (translated): 
Distributive conflict and income's policy around the real exchange rate in a semi industrialized agro-exporter economy
Year of Publication: 
2019
Citation: 
[Journal:] Revista de Métodos Cuantitativos para la Economía y la Empresa [ISSN:] 1886-516X [Volume:] 28 [Year:] 2019 [Pages:] 243-277
Publisher: 
Universidad Pablo de Olavide, Sevilla
Abstract (Translated): 
A conflict of Ricardian type is arised. Landowners produce exportable salary-goods and consume imported luxury goods. Small industrialists produce non-tradable manufactures with sunk costs by importing capital goods. Employees consume exportable goods and non-tradable manufactures. Quantities are measured in physical units and prices in fiat money. The international currency is fiduciary. There is no equilibrium of pure economy. Price equilibrium does not imply full employment. According to the political management, an increase (reduction) in the real exchange rate benefits (harms) exporters, reduces (increases) the real salary and has oscillating effects on industrial benefits, generating oscillating alliances of the industrialists, with eather landowners or workers, in order to achive a favorable real change rate in a zero sum game. Stabilization with the monetary approach to the balance of payments is impossible. The theoretical model formalizes the structural crisis of peripheral economies that finance technologically dependent industries with agricultural exports.
Subjects: 
distributive conflict
real exchange rate
unbalanced growth
JEL: 
O15
O24
O41
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Article

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