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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

Abstract

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.

Suggested Citation

  • Saúl Keifman, 2007. "Le rapport entre taux de change et niveau d'emploi en Argentine. Une révision de l'explication structuraliste," Revue Tiers-Monde, Armand Colin, vol. 0(1), pages 93-112.
  • Handle: RePEc:cai:rtmarc:rtm_189_0093
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