Structuralist Development Macroeconomics Research Group
Structuralist Development Macroeconomics explains economic development as a historical process of capital accumulation driven by technological progress and structural change. Sustained growth depends on profitable investment opportunities, supported by balanced expansion of domestic demand and exports, with an exchange rate maintained around its equilibrium level.
Our Research Areas
Our research is organized around six core areas in Structuralist Development Macroeconomics:
Growth and Distribution in Post-Keynesian Models
Examining the interaction between income distribution, demand dynamics, and long-term growth.
Growth, Infrastructure, and Convergence Dynamics
Analyzing how structural investment and productive capacity shape development trajectories.
Financial Fragility and Business Cycles
Investigating financial instability, credit cycles, and macroeconomic volatility.
Developmental Macroeconomics
Exploring structural transformation, industrial policy, and development strategies.
Stock-Flow Consistent Modeling
Developing coherent macroeconomic models that integrate real and financial sectors.
Monetary Policy, Exchange Rate Regimes, and Public Debt Sustainability
Assessing macroeconomic policy frameworks and their implications for stability and growth.
Our Publications
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Our Videos
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The Evolution of Inflation Targeting in Mexico: A Critical Perspective
In this seminar, researcher Carlos A. Carrasco explores the historical and institutional development of the Bank of Mexico (Banxico). He analyzes the transition to the Inflation Targeting (IT) framework following the 1994 crisis and discusses the central bank’s autonomy.
The presentation offers a critical view of the current monetary framework, highlighting its limitations regarding economic growth and its role in Mexico’s premature deindustrialization. Carrasco examines how the focus on price stability and high interest rates has led to exchange rate overvaluation and a dependency on US Federal Reserve policies.
Análise da Decisão do Copom: Selic a 15% e o Dilema da Meta de Inflação
Nesta entrevista ao programa Pre-Market, professor José Luis Oreiro discute a recente performance recorde do Ibovespa e a queda do dólar frente ao real. Analiso como o cenário externo e o diferencial de juros atraem capital estrangeiro, mas faço um alerta importante: uma taxa de câmbio cronicamente sobrevalorizada (abaixo de R$ 5,00) pode aprofundar o processo de “regressão produtiva” e desindustrialização precoce que venho denunciando em minhas pesquisas. Embora os indicadores de curto prazo pareçam positivos, é preciso olhar para a estrutura produtiva de longo prazo para garantir um crescimento econômico sustentável e a redução do desemprego disfarçado no país
Lecture delivered by Professor José Luis Oreiro titled “A Macrodynamic Model for a Monetary Production Economy: Beyond Short-Period Equilibrium of Keynes’ General Theory’ in February 23rd, 2026 at the University of Basque Country.
Contact
For inquiries, academic collaboration, or further information about our research, please get in touch with our group.