This study aims to examine the theoretical literature concerning exchange-rate and balance-of-payments determination, in order to investigate how an exchange rate change may affect one country's foreign trade flows. Therefore, we analyze the different categories of balance-of-payments models -...

This study aims to analyze empirically the interactions between exchange rate behavior and the performance of Brazilian foreign trade. First, the empirical literature on the subject is reviewed, in order to elucidate methodological issues such as appropriate model type, identification strategy,...

This study aims to test the existence of cointegration between variables that are typically used to estimate the existence of exchange rate misalignment for a sample of developed and developing countries, many of whom are members of the G20. The methodology consists in cointegration analysis...

This paper has as main objective to estimate the bilateral misalignment from the methodology described by Alberola et al. (1999) for the main Brazilian trade partners. Therefore, we present the main approaches used to estimate the multilateral real exchange rates and description of the...

This study aims to test the existence of cointegration between variables that are typically used to estimate the existence of exchange rate misalignment for a sample of developed and developing countries, many of whom are members of the G20. The methodology consists in cointegration analysis...

This paper has as main objective to estimate the bilateral misalignment from the methodology described by Alberola et al. (1999) for the main Brazilian trade partners. Therefore, we present the main approaches used to estimate the multilateral real exchange rates and description of the...

This study aims to analyze empirically the interactions between exchange rate behavior and the performance of Brazilian foreign trade. First, the empirical literature on the subject is reviewed, in order to elucidate methodological issues such as appropriate model type, identification strategy,...

This study aims to examine the theoretical literature concerning exchange-rate and balance-of-payments determination, in order to investigate how an exchange rate change may affect one country's foreign trade flows. Therefore, we analyze the different categories of balance-of-payments models –...

The real exchange rate (RER) can be considered one of the most important relative price of economics, given the influence it exerts on many other prices and variables, and may be overvalued, among other factors, as a symptom of the existence of a Dutch disease process. Thus, seeking to prove...

In this paper, we describe the operation of the foreign exchange (FX) market in Brazil and discuss the relations between prices of derivatives and spot prices. A literature review of interventions in the FX market is done. Then, we study, in a descriptive way, the interventions of the Central...