This paper empirically investigates the credibility of the Brazilian exchange rate target zone implemented from March 10, 1995 to January 15, 1999 using the drift-adjustment method developed by Bertola and Svensson (1993). The model estimation does not accept the perfect credibility hypothesis,...

This paper analyses the dynamic relations among consumption, income and wealth in Brazil, from 1980 to 1995, based on the Life Cycle hypothesis. It also investigates the impacts from the stabilization plans (Cruzado, Collor and Real) over the Brazilian consumption. The results from the VAR...

This paper empirically investigates the credibility of the Brazilian exchange rate target zone implemented from March 10, 1995 to January 15, 1999 using the drift-adjustment method developed by Bertola and Svensson (1993). The model estimation does not accept the perfect credibility hypothesis,...

This chapter is motivated by the fact that the Brazilian economy has one of the highest income inequality index in the world. According to Paes de Barros et al(2000), average income of the 10% richest people in Brazil is 28 times higher than the average income of the 40% poorest people. In...

This paper presents the theoretical and empirical aspects of a monetary union between Brazil and Argentina based on the concept of Optimal Monetary Union. The behavior of some Brazilian and Argentinean macroeconomic indicators such as total debt, public deficit, interest rate and inflation rate...