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Le rapport entre taux de change et niveau d'emploi en Argentine. Une révision de l'explication structuraliste

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  • Saúl Keifman
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    Born of the 1960s structuralist macroeconomy, the theory of recessive devaluation has since been abandoned by many of its former defenders. This article proposes to review its present-day import. It formulates different models regarding the relation between exchange rates and employment, short-term macroeconomic models, taking up structuralist presuppositions on employees’ consumer behaviour and the hypothesis of the commodity « salary » as sole export commodity. The possibility is thus demonstrated that the exchange rate/employment relation has the form of an inverted ‘U’ and that it is sensitive to a tariff policy. Consequently, devaluations will be either recessive or expansive depending on exchange rate levels and tariff protection.

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    Article provided by Armand Colin in its journal Revue Tiers Monde.

    Volume (Year): n° 189 (2007)
    Issue (Month): 1 ()
    Pages: 93-112

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    Handle: RePEc:cai:rtmarc:rtm_189_0093
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