The document analyzes the role of money in trade balance stability by synthesizing the elasticity and absorption approaches. It presents a model that incorporates monetary factors like money supply and interest rates. The model assumes internal balance and Keynesian neutral monetary policy. It finds that under these assumptions, a devaluation can improve the trade balance if the Marshall-Lerner condition is met and marginal savings propensities are positive. However, the stability condition is stricter when terms-of-trade effects are considered. It also finds the Keynesian neutral money policy assumption could lead to instability, and that neither approach alone is sufficient, as both monetary and elasticity factors must be analyzed together.