This article analyzes the exchange rate misalignment in Brazil in the period between 1994 and the early 2008, exploring its causes and consequences. The method used was to adjust the exchange rate according to the economic fundamentals. The estimations led to an expected long-term exchange rate,...

This article analyzes the exchange rate misalignment in Brazil in the period between 1994 and the early 2008, exploring its causes and consequences. The method used was to adjust the exchange rate according to the economic fundamentals. The estimations led to an expected long-term exchange rate,...

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...

Após a abertura comercial em 1998, grandes mudanças ocorreram no comércio exteriornacional devido sucessivos choques cambiais aos quais a economia foi exposta. A literaturade referência sugere que grandes choques na taxa de câmbio induzem mudanças persistentesna relação entre a taxa de...