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Perturbaciones reales sobre la Cuenta Corriente. Equilibrio parcial keynesiano vs. enfoque intertemporal de la cuenta corriente

Mariano Fernández

No 815, CEMA Working Papers: Serie Documentos de Trabajo. from Universidad del CEMA

Abstract: El objetivo de este documento es contraponer el enfoque de equilibrio parcial keynesiano sobre el funcionamiento de la Cuenta Corriente con el enfoque moderno de equilibrio general, donde los desequilibrios de la Cuenta Corriente reflejan a la misma como un elemento amortiguador de shocks, tanto reales como monetarios. En el documento se intentará poner en evidencia el error del enfoque del equilibrio parcial y se analizaran cómo frente a distintos shocks reales, el resultado de la Cuenta Corriente sería el reflejo del desequilibrio macroeconómico que la generó. / 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.

Keywords: cuenta corriente; deficit; sustitucion intertemporal; estructuralismo; shocks reales; temporario; permanente. (search for similar items in EconPapers)
JEL-codes: E12 E32 E58 E62 F32 F41 (search for similar items in EconPapers)
Pages: 47 pages
Date: 2021-11
New Economics Papers: this item is included in nep-mac
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