This paper presents the latest version of the annual econometric model for the Brazilian economy developed by the Group of Macroeconomic Analysis and Modelling (Gamma) at IPEA/DIPES. The model is designed to make medium run projections and policy simulations. The specification of the model is...

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...