Trade elasticities and market expectations in Brazil /
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Author / Creator: | Paiva, Claudio, author. |
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Imprint: | Washington, D.C : International Monetary Fund, ©2003. |
Description: | 1 online resource (21 pages) : illustrations |
Language: | English |
Series: | IMF working paper ; WP/03/140 IMF working paper ; WP/03/140. |
Subject: | |
Format: | E-Resource Book |
URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12497014 |
Other authors / contributors: | IMF Institute. International Monetary Fund. |
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ISBN: | 1451901305 9781451901306 |
Notes: | Includes bibliographical references (pages 20-21). Restrictions unspecified Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 digitized 2010 HathiTrust Digital Library committed to preserve Print version record. |
Summary: | This paper provides econometric estimates of trade elasticities for Brazil obtained through cointegration and vector auto regression models and controlling for the effects of exchange rate volatility, capacity utilization, and changes in import tariffs. The results suggest that (i) recent market expectations may have been unduly pessimistic regarding the responsiveness of Brazil's trade flows to the real exchange rate, but (ii) the GDP growth rates targeted by the new government may put downward pressure on the exchange rate and thus render the achievement of official inflation targets considerably more difficult if structural reforms are not implemented. |
Other form: | Print version: Paiva, Claudio. Trade elasticities and market expectations in Brazil. Washington, D.C : International Monetary Fund, ©2003 |
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