Criticisms and defences of the balance-of-payments constrained growth model: some old, some new
This paper assesses various critiques that have been levelled over the years against Thirlwall’s Law and the balance-of-payments constrained growth model. It starts by assessing the criticisms that the law is largely capturing an identity; that the law of one price renders the model incoherent; and...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2011-12-01
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| Series: | PSL Quarterly Review |
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| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/9405 |