Sustentabilidade fiscal e seus impactos sobre a taxa de câmbio
Carregando...
Data
2016-08-03
Autores
Orientador(res)
Marconi, Nelson
Métricas
Título da Revista
ISSN da Revista
Título de Volume
Resumo
The exchange rate policy can be used to achieve certain goals, such as controlling inflation, external balance and competitiveness or financial stability. In common, these goals share the reduction in volatility, as this can cause abrupt changes in relation to the appropriate value of the exchange rate, causing the misalignment. This work intends to perform a model for the behavioral equilibrium exchange rate and make a discussion about the variable that has most impact over the equilibrium level: fiscal policy, through country-risk. Empirical evidence suggests that the perception of the country-risk originated from the sustainability of public finances has had significant impact on the exchange rate volatility, causing its misalignment.