El tipo de cambio en Argentina de los años noventa y la globalización de la economía mundial

Abstract

The paper tries to review and discuss the way in which Economic Theory (International Monetary Economics after the collapse of Bretton Woods of 1973) deals with the concept of equilibrium exchange rate in view of the so called Financial Revolution of the 70´s and 80´s. Under this analytical and empirical framework we will try to answer the question: the argentine rate of exchange today, is or is it not overvalued? How can we know it and how can we estimate that possible overvaluation? Is the trade deficit observed as a signal of the possible overvaluation