O enfoque da absorção e a transição para o enfoque monetário do balanço de pagamentos
DOI:
https://doi.org/10.1590/1980-53571712vrAbstract
In this paper a retrospect of the monetary approach of the balance of payments is presented in order to evaluate its methodological issues. It starts from a review of intermediate models between the absorption and the monetary approaches, from which a generalization of the absorption approach
(that takes the capital account into consideration) is suggested, upon a specific aggregate relation ("Hawtrey's Law"). The basic contents of the absorption approach are exposed, making explicit an essential hypothesis rarely understood with clarity; this allows to show that the approach does not have the theoretical support it claims to have, and that it is probably false.
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References
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Copyright (c) 1987 Valdir Ramalho
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