Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/260509 
Year of Publication: 
2021
Series/Report no.: 
Serie Documentos de Trabajo No. 815
Publisher: 
Universidad del Centro de Estudios Macroeconómicos de Argentina (UCEMA), Buenos Aires
Abstract (Translated): 
The purpose of this paper is to contrast the Keynesian partial equilibrium framework of the Current Account with the modern intertemporal general equilibrium approach where the Current Account imbalances reflect, and act as a buffer, against both real and monetary shocks. The document will try to highlight the failure of the partial equilibrium approach and will analyze, in the face of different real shocks, how the outcome of the Current Account will be the mirror of the macroeconomic imbalance that caused it.
Subjects: 
Cuenta Corriente
Deficit
Sustitucion intertemporal, estructuralismo
Shocks reales
Temporario
Permanente
JEL: 
E12
E32
E62
E58
F32
F41
Document Type: 
Working Paper

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