Author: Claudio Paiva
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 30
Book Description
This paper investigates the factors behind the significant improvement in Brazil's external accounts and wide fluctuations of the real exchange rate since the floating of the real in 1999. Particular attention is devoted to the strong appreciation of the real from 2003-05. Econometric estimates of of behavioral equilibrium exchange rate (BEER) model for Brazil show that most of this appreciation was an equilibrium response to improved economic fundamentals.
External Adjustment and Equilibrium Exchange Rate in Brazil
Author: Claudio Paiva
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 30
Book Description
This paper investigates the factors behind the significant improvement in Brazil's external accounts and wide fluctuations of the real exchange rate since the floating of the real in 1999. Particular attention is devoted to the strong appreciation of the real from 2003-05. Econometric estimates of of behavioral equilibrium exchange rate (BEER) model for Brazil show that most of this appreciation was an equilibrium response to improved economic fundamentals.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 30
Book Description
This paper investigates the factors behind the significant improvement in Brazil's external accounts and wide fluctuations of the real exchange rate since the floating of the real in 1999. Particular attention is devoted to the strong appreciation of the real from 2003-05. Econometric estimates of of behavioral equilibrium exchange rate (BEER) model for Brazil show that most of this appreciation was an equilibrium response to improved economic fundamentals.
IMF Working Papers
Author: Claudio Paiva
Publisher:
ISBN:
Category : Electronic books
Languages : en
Pages :
Book Description
Publisher:
ISBN:
Category : Electronic books
Languages : en
Pages :
Book Description
Cyclical Fluctuations in Brazil's Real Exchange Rate
Author: Mr.Carlos I. Medeiros
Publisher: International Monetary Fund
ISBN: 145193548X
Category : Business & Economics
Languages : en
Pages : 33
Book Description
This paper examines the effects of capital inflows and domestic factors on Brazil’s real exchange rate. It describes the analytical framework, and then estimates a near-VAR model linking capital flows, interest rate differentials, government spending, money-base velocity, and the temporary component of the real exchange rate (TCRER). Generalized variance decompositions indicate that world interest rate shocks largely explain medium-term fluctuations in capital flows and the TCRER. Generalized impulse response functions show that a reduction in the world interest rate (and, to a lesser extent, an increase in government spending) have significant effects on the TCRER and capital flows.
Publisher: International Monetary Fund
ISBN: 145193548X
Category : Business & Economics
Languages : en
Pages : 33
Book Description
This paper examines the effects of capital inflows and domestic factors on Brazil’s real exchange rate. It describes the analytical framework, and then estimates a near-VAR model linking capital flows, interest rate differentials, government spending, money-base velocity, and the temporary component of the real exchange rate (TCRER). Generalized variance decompositions indicate that world interest rate shocks largely explain medium-term fluctuations in capital flows and the TCRER. Generalized impulse response functions show that a reduction in the world interest rate (and, to a lesser extent, an increase in government spending) have significant effects on the TCRER and capital flows.
Exchange Rate Policy and Stabilization in Brazil
Author: Alvaro Antonio Zini
Publisher:
ISBN:
Category : Brazil
Languages : en
Pages : 412
Book Description
Publisher:
ISBN:
Category : Brazil
Languages : en
Pages : 412
Book Description
Economic Structure and Adjustment
Author: Marta de Castello Branco
Publisher:
ISBN:
Category : Brazil
Languages : en
Pages : 244
Book Description
Publisher:
ISBN:
Category : Brazil
Languages : en
Pages : 244
Book Description
Making the Transition from a Fixed to a Floating Exchange Rate Regime
Author: Lauro Vieira de Faria
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 52
Book Description
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 52
Book Description
Brazil's External Adjustment
Author: Eustáquio José Reis
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
In this paper we present projections for Brazil's balance of payments in 1999 under alternative scenarios for GDP growth and foreign capital inflows. Our main objective is to estimate the real exchange rate devaluation required for the country's external adjustment. Our simulations are based on the Quarterly Model of the Balance of Payments developed by the Department of Macroeconomics at IPEA.
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
In this paper we present projections for Brazil's balance of payments in 1999 under alternative scenarios for GDP growth and foreign capital inflows. Our main objective is to estimate the real exchange rate devaluation required for the country's external adjustment. Our simulations are based on the Quarterly Model of the Balance of Payments developed by the Department of Macroeconomics at IPEA.
Targeting the Real Exchange Rate
Author: Mr.Guillermo Calvo
Publisher: International Monetary Fund
ISBN: 1451921217
Category : Business & Economics
Languages : en
Pages : 50
Book Description
This paper presents a theoretical and empirical analysis of policies aimed at setting a more depreciated level of the real exchange rate. An intertemporal optimizing model suggests that, in the absence of changes in fiscal policy, a more depreciated level of the real exchange can only be attained temporarily. This can be achieved by means of higher inflation and/or higher real interest rates, depending on the degree of capital mobility. Evidence for Brazil, Chile, and Colombia supports the model’s prediction that undervalued real exchange rates are associated with higher inflation.
Publisher: International Monetary Fund
ISBN: 1451921217
Category : Business & Economics
Languages : en
Pages : 50
Book Description
This paper presents a theoretical and empirical analysis of policies aimed at setting a more depreciated level of the real exchange rate. An intertemporal optimizing model suggests that, in the absence of changes in fiscal policy, a more depreciated level of the real exchange can only be attained temporarily. This can be achieved by means of higher inflation and/or higher real interest rates, depending on the degree of capital mobility. Evidence for Brazil, Chile, and Colombia supports the model’s prediction that undervalued real exchange rates are associated with higher inflation.
The Real Plan and the Exchange Rate
Author: Gustavo Henrique Barroso Franco
Publisher:
ISBN: 9780881651249
Category : Devaluation of currency
Languages : en
Pages : 0
Book Description
Publisher:
ISBN: 9780881651249
Category : Devaluation of currency
Languages : en
Pages : 0
Book Description
Growth, External Financing, and Stabilization of the Brazilian Economy
Author: Carlos Alberto Cinquetti
Publisher:
ISBN:
Category : Brazil
Languages : en
Pages : 230
Book Description
Publisher:
ISBN:
Category : Brazil
Languages : en
Pages : 230
Book Description