A consensus has not yet emerged about the relationship between the budget deficit, external deficit and national saving. In general, the mechanisms through which a budget deficit could cause a current account deficit are not highlighted in the works about this theme. Basing on the Post Keynesian...

This paper aims to estimate the equilibrium real exchange rate for the Brazilian economy. The equilibrium exchange rate is defined as the level of exchange that guarantees that the net foreign asset position is stable over time. An econometric model is estimated using cointegration techniques....

This paper aims at assessing the effects of real exchange rate overvaluation over the export composition for developing countries in a time span of 1970-2004. For this intent, it is estimated an exchange rate overvaluation index by using panel cointegration techniques (Dynamic Ordinary Least...

English Abstract: FTAs have gained prominence in the trade policy of Latin American countries to the detriment of other forms of economic integration. In this trend there is a predominance of south-north schemes, where all kinds of asymmetries are evident. The aim of this paper is to demonstrate...

A consensus has not yet emerged about the relationship between budget deficit, external deficit and national saving. In general, the mechanisms through which budget deficits could cause current account deficits are not highlighted in the works about this theme. Basing on the Post Keynesian...

This article uses a crisis index based on an average of the variations in currency and financial crises indicators, referred to as "twin crises", adjusting them to the same volatility. Thus, the objective is to measure the degree of vulnerability to twin crises within a group of 19 countries in...

The present work examines the exchange regime transition in Brazil (1994 to 2003) based on the hypothesis of the existence of changes in the interaction of exchange rate, interest rates and inflation. It also examines to what extent one can say that there was a fear of floating. The results...

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...