LEADER 03636oam 22009734 450 001 9910788701003321 005 20230828235844.0 010 $a1-4623-7603-7 010 $a1-4527-6325-9 010 $a1-283-51704-3 010 $a9786613829498 010 $a1-4519-0934-9 035 $a(CKB)3360000000443875 035 $a(EBL)3014542 035 $a(SSID)ssj0000940798 035 $a(PQKBManifestationID)11518143 035 $a(PQKBTitleCode)TC0000940798 035 $a(PQKBWorkID)10975344 035 $a(PQKB)11461422 035 $a(OCoLC)694141247 035 $a(MiAaPQ)EBC3014542 035 $a(IMF)WPIEE2006221 035 $a(EXLCZ)993360000000443875 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aExternal Adjustment and Equilibrium Exchange Rate in Brazil /$fClaudio Paiva 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (23 p.) 225 1 $aIMF Working Papers 300 $a"October 2006." 311 $a1-4518-6481-7 320 $aIncludes bibliographical references. 327 $a""Contents""; ""I. INTRODUCTION""; ""II. THE EXTERNAL ADJUSTMENT""; ""III. THE EQUILIBRIUM EXCHANGE RATE IN BRAZIL""; ""IV. CONCLUDING REMARKS""; ""REFERENCES"" 330 3 $aThis paper investigates the factors behind the significant improvement in Brazil's external accounts and wide fluctuations of the real exchange rate since the floating of the real in 1999. Particular attention is devoted to the strong appreciation of the real from 2003-05. Econometric estimates of of behavioral equilibrium exchange rate (BEER) model for Brazil show that most of this appreciation was an equilibrium response to improved economic fundamentals. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/221 606 $aForeign exchange$zBrazil 606 $aBalance of trade$zBrazil 606 $aBanks and Banking$2imf 606 $aExports and Imports$2imf 606 $aForeign Exchange$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aCurrent Account Adjustment$2imf 606 $aShort-term Capital Movements$2imf 606 $aCurrency$2imf 606 $aForeign exchange$2imf 606 $aFinance$2imf 606 $aInternational economics$2imf 606 $aReal effective exchange rates$2imf 606 $aExchange rates$2imf 606 $aReal exchange rates$2imf 606 $aReal interest rates$2imf 606 $aCurrent account$2imf 606 $aInterest rates$2imf 606 $aBalance of payments$2imf 607 $aBrazil$2imf 615 0$aForeign exchange 615 0$aBalance of trade 615 7$aBanks and Banking 615 7$aExports and Imports 615 7$aForeign Exchange 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aCurrent Account Adjustment 615 7$aShort-term Capital Movements 615 7$aCurrency 615 7$aForeign exchange 615 7$aFinance 615 7$aInternational economics 615 7$aReal effective exchange rates 615 7$aExchange rates 615 7$aReal exchange rates 615 7$aReal interest rates 615 7$aCurrent account 615 7$aInterest rates 615 7$aBalance of payments 700 $aPaiva$b Claudio$01462128 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788701003321 996 $aExternal Adjustment and Equilibrium Exchange Rate in Brazil$93673718 997 $aUNINA