Demand led growth 3 | Thirlwall's law
Channel: blobMetropolis
Date: 22/11/2020

An introductory video explain Thirlwall's law a common model used in Post-Keynesian open economic models.

Links

Rethinking economics's introduction to post-Keynesian economics
https://www.youtube.com/watch?v=ngltlEgAKho


Sources


Araujo, Ricardo Azevedo, and Gilberto Tadeu Lima. 2007. “A Structural Economic Dynamics Approach to Balance-of-Payments-Constrained Growth.” Cambridge Journal of Economics 31 (5): 755–74.
Blecker, Robert. 2009. “Long-Run Growth in Open Economies: Export-Led Cumulative Causation or a Balance-of-Payments Constraint?” American University, Department of Economics.
Palumbo, Antonella. 2015. “The Role of Aggregate Demand in Kaldor’s Late Contributions to Economic Growth: A Reply.” Review of Political Economy 27 (3): 450–56.
Thirlwall, AP. 1982. “The Harrod Trade Multiplier and the I~ Nportance of Export-Led Growth.” Pakistan Journal of Applied Economics 1 (1).

Some 3d assets adapted from kits created/distributed by Kenney (www.kenney.nl)