Real Exchange Rate, Distribution and Macro Fluctuations in Export-oriented Economies,” Metroeconomica 61

The paper investigates the emergence of alternative distributional and real ex-change rate patterns as outcome of institutional and socioeconomic interactions between broadly defined actors in an open economy. The focus is on both the long-run configuration and short-run dynamics of real exchange rate, the profit and wage shares, output growth, capacity utilization, and net foreign asset accumulation in a stock-flow consistent framework with fiscal polices affecting the internal and ex-ternal equilibrium. Fluctuations in output and distribution between income shares and the real exchange rate are obtained via Structuralist-Goodwin dynamics