Un ejercicio sobre el tipo real de cambio de equilibrio

Abstract

A very simple conceptual framework with a few variables is used as a methodological attempt to introduce explicitly the level of economic activity and capital flows in the explanation of the hag-tug real exchage rate. Its application to the argentine experience should take into account the peculiar characteristics of its economy during the seventies and the eighties. The conclusions are merely tentative since they are not based on an elaborated statistical and econometric research; however, they make some suggestions that can be used to interpret the past more realistically.