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The data suggest that current account balances are typically "countercyclical" (i.e.,sur-plus(or reduced deficits) during recessions, and...

The data suggest that current account balances are typically "countercyclical" (i.e.,sur-plus(or reduced deficits) during recessions, and deficits (or reduced surpluses) during booms). According to the DD-AA model,what kind of shocks must be driving the cycle(i.e., real shock or financial market shocks)? Again, it might help to use a graph to illustrate your answer.

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