In this article we argue that the Brazilian economy presented in the period 1994-2007 a tendency of real exchange rate appreciation with respect to its equilibrium value, mainly from 2005. This exchange rate misalignment has worked to reduce the growth of Brazilian economy and is the root of the re-emergence of current account deficits.
Oreiro, J.L., Punzo, L.F., Araujo, E.C., Squeff, G. (2011). Taxa real de câmbio, desalinhamento cambial e crescimento econômico no Brasil (1994-2007). REVISTA DE ECONOMIA POLÍTICA, 31(4), 551-562 [10.1590/S0101-31572011000400003].
Taxa real de câmbio, desalinhamento cambial e crescimento econômico no Brasil (1994-2007)
PUNZO, LIONELLO FRANCO;
2011-01-01
Abstract
In this article we argue that the Brazilian economy presented in the period 1994-2007 a tendency of real exchange rate appreciation with respect to its equilibrium value, mainly from 2005. This exchange rate misalignment has worked to reduce the growth of Brazilian economy and is the root of the re-emergence of current account deficits.
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https://hdl.handle.net/11365/50150
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