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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 -...
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index of RER misalignment from a cointegrated panel of 102 countries, in order to relate it to the type of export basket of … identify those that contribute to its overvaluation. The results demonstrate that an export basket focused on primary products … contributes to appreciate the real exchange rate, while an export basket with a higher share of manufactured products does not …
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This paper shows estimates of the optimal level of foreign reserves for Brazil between the first quarter of 2004 and the third trimester of 2012, by applying the new Jeanne e Rancière (2011) framework, using different scenarios. The estimates of the optimal holdings of this asset are calculated...
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This paper shows estimates of the optimal level of foreign reserves for Brazil between the first quarter of 1998 and the same trimester of 2008, by applying the Jeanne e Ranciére (2006) framework, using different scenarios. We also estimate the fiscal costs of holding this asset, as well as the...
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