Desalinhamento cambial no Brasil após o plano real: uma análise empírica
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2007-12-05
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The work addresses the current discussion in Brazil of possible negative effects of exchange rate overvaluation on growth and its adjustment dynamics in the short and long run. The paper presents econometric evidence of possible exchange rate misalignments in Brazil since 1994. Using monthly data from January 1995 until September 2006 we study real exchange rate levels and equilibrium dynamics