Barbosa-Filho, Nelson H. - In: Banca Nazionale del Lavoro Quarterly Review 54 (2001) 219, pp. 381-400
This paper extends the balance-of-payments constraint on growth known as Thirlwall's law to incorporate unbalanced trade and debt accumulation. Assuming that small open economies face a liquidity constraint, the text shows the growth and real-exchange-rate policy rules consistent with a stable...
