Regimes cambiais e intervenÃÃes no Mercado de cÃmbio: uma abordagem a partir da experiÃncia brasileira
AUTOR(ES)
Claudia Teresa Pillatti
DATA DE PUBLICAÇÃO
2007
RESUMO
This research analyzes the Brazilian exchange rate system and the exchange rate interventions after flexible exchange rate system implementation in 1999, and have like base the "fear of floating" approach, the exchange rate interventions theory and of the fact exchange rate classification. The evidences found for Brazil suggest that the exchange rate interventions illustrate objectives of the exchange rate debt reduction and do not follow the "fear of floatingâ objectives". In the others empirical tests find a weak short run relation between exchange rate and domestic interest rate, exchange rate backups, domestic inflation and public debt in proportion to the GDP, and a strong short run relation between exchange rate and country risk, indicating that the movements of the exchange rate do not affect heavy the variables of the "fear of floating" and that do not believe that the country suffer from that problem. Confirming that idea, finds that of the fact exchange rate system is compatible with the jure exchange rate system, despite it find low exchange rate flexibility.
ASSUNTO(S)
regimes cambiais experiÃncia brasileira exchange rate systems of the facto exchange rate mercado de cÃmbio sistemas cambiais de facto brazilian experience cÃmbio intervenÃÃes no mercado de cÃmbio exchange rate interventions economia
ACESSO AO ARTIGO
http://www.bdtd.ufu.br//tde_busca/arquivo.php?codArquivo=1839Documentos Relacionados
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