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Full-Text Articles in Social and Behavioral Sciences
Testing The Equilibrium Exchange Rate Model, Sergio Da Silva, Guilherme Moura
Testing The Equilibrium Exchange Rate Model, Sergio Da Silva, Guilherme Moura
Sergio Da Silva
We find favorable evidence for the textbook equilibrium exchange rate model of Stockman using Blanchard and Quah’s decomposition. Real shocks are shown to account for more than 90 percent of movements in the real exchange rate between Brazil and the United States of America, and for more than half of the nominal exchange rate changes. Impulse response functions also suggest that real shocks alter these countries’ relative prices.
Impacts Of China's Growth On The Brazilian Trade, Tatiana Ferrari, Milton Biage, Sergio Da Silva
Impacts Of China's Growth On The Brazilian Trade, Tatiana Ferrari, Milton Biage, Sergio Da Silva
Sergio Da Silva
We evaluate whether the presence of China in world trade is ultimately beneficial or whether it is a threat to Brazil. Using a gravitational model and a panel data method, we find that the Chinese exports to countries other than Brazil are not hurting the Brazilian exports, although the exports of Brazilian manufactured goods have been displaced by commodities as a result of its commerce with China.