@techreport{NBERw1177,
 title = "A Theory of Current Account and Exchange Rate Determinations",
 author = "Joshua Aizenman",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "1177",
 year = "1984",
 month = "June",
 URL = "http://www.nber.org/papers/w1177",
 abstract = {The purpose of this paper Is to construct a two-period, two-country model that derives the current account, the exchange rate,the terms of trade, and real interest rates from optimal behavior principles.This is done by constructing a model that uses money mainly as a means of exchange, where the technology of exchange is flexible due to potential substitutability of time and real balances as a means of coordinating transactions. The discussion results in a framework that integrates elements of net saving theories and the monetary approach into a unified structure, in which the two approaches are  complementary viewpoints.},
}