A relação entre a taxa de câmbio e os salários em uma economia semi-industrializada de dois setores

Abstract

This paper examines some traditional propositions on the difficulties most semiindustrialized Latin-American countries face in reaching both internal and external equilibrium simultaneously. In this respect our main purpose is to show that those propositions are theoretically well grounded. In order to do that we work on a twosector model designed to reflect the main features of the "real" side functioning of the Argentine economy in the short-run. Based on that model, the paper analyzes the macroeconomic effects of IMF-inspired adjustment policies recently applied in Argentina and other Latin-American countries. In addition, it finally considers possible alternatives to those policies.