Exchange rate regulation, the behavior of exchange rates, and macroeconomic stability in Brazil
Bibliographic Data
| ID | 4369320 |
|---|---|
| Authors | Francisco Eduardo Pires De Souza (0000-0001-6795-8633, Universidade Federal do Rio de Janeiro), Fernando J Cardim De Carvalho (Universidade Federal do Rio de Janeiro) |
| Year | 2011 |
| Volume | 31 |
| Issue | 4 |
| Pages | 563-578 |
| Publication date | 2011-12-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Brazilian Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0101-3157 • E-ISSN: 1809-4538 |
| Publisher | FapUNIFESP (SciELO) (PUBLISHER) |
| DOI | 10.1590/s0101-31572011000400004 |
| OpenAlex | W2019812470 |
| SCIELO_PID | S0101-31572011000400004 |
| Language | EN |
| Citations received | 2 |
| References cited | 4 |
In the last two decades an entirely new set of rules governing the foreign exchange transactions was established in Brazil, substituting for the framework inherited from the 1930s. Foreign exchange controls were dismantled and a floating exchange rate regime replaced different forms of peg. In this paper we argue that although successful by comparison to previous experiences, the current arrangement has important flaws that should be addressed. We discuss how it first led to high volatility and extremely high interest rates, which, when overcome, gave way to a long lasting appreciation of the real exchange rate with adverse consequences to industry
Economics · Exchange rate · Financial economics · Foreign exchange · Interest rate parity · International economics · Macroeconomics · Monetary economics · Volatility (finance · Economic Theory and Policy · Global Financial Crisis and Policies · Monetary Policy and Economic Impact
| Unique citing works | 2 |
|---|---|
| Citations per year | 0,18 |
| Citation span | 2015 - 2021 (7) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |