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Um Modelo Dinâmico de Macroeconomia Aberta com Metas de Inflação, “Conflito Distributivo” e Equilíbrio na Conta Corrente

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Author Info

  • Eduardo Drumond

    ()
    (Faculty of Economics, Universidade Federal do Paraná)

  • Gabriel Porcile

    ()
    (Department of Economics, Universidade Federal do Paraná)

Abstract

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.

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Bibliographic Info

Paper provided by Universidade Federal do Paraná, Department of Economics in its series Working Papers with number 0109.

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Length: 13 pages
Date of creation: 2010
Date of revision:
Handle: RePEc:fup:wpaper:0109

Note: Creation Date corresponds to the year in which the paper was published on the Department of Economics website. The paper may have been written a small number of months before its publication date.
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Related research

Keywords: Growth. Foreign debt. Kaleckian model of open economy. Stability. Indebtedness.;

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