Ferrari-Filho, Fernando; Jr, Frederico G. Jayme; Lima, … - Centro de Desenvolvimento e Planejamento Regional … - 2004
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 … well as exchange rate volatility in Brazil. We argue in this paper that this proposal does not lead necessarily either to …