This paper aims at discussing critically Pérsio Arida’s proposal of adopting currency convertibility in Brazil. Arida (2003a, 2003b, 2004) points out that currency convertibility would make for lower interest rates in Brazil, as well as for lower interest rates for the Brazilian external...

This paper aims to analyze the relation among exchange rate, distribution and economic growth from a short-term Keynesian-structuralist perspective. The domestic absorption is the cornerstone of the analysis, inasmuch as an exchange rate devaluation leads to an expansionist result in the...