Soukiazis, Elias; Cerqueira, Pedro André; Antunes, Micaela - In: Journal of Post Keynesian Economics 36 (2013) 2, pp. 275-298
Thirlwall's law (Thirlwall 1979) considers that growth can be constrained by the balance of payments when the current account is in permanent deficit. The law focuses on external imbalances as impediments to growth and does not consider the case where internal imbalances (budget deficits or...