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The Brazilian experience in managing interest-exchange rate nexus

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  • Ricardo Carneiro
  • Pedro Rossi
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    Abstract

    This paper addresses four main questions: firstly, it discusses some theoretical background related to the interest-exchange rate nexus; secondly, it makes an attempt to explain why the interest rate in Brazil is so high, examining briefly the main explanations for it; thirdly, it describes Brazil’s foreign exchange markets, their size and hierarchy; and lastly, it explains the carry trade dynamics considering the institutionalism of the Brazilian foreign exchange market and also the government policies envisioned to curb it.

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    File URL: http://finance-and-trade.htw-berlin.de/fileadmin/working_paper_series/wp_02_2013_Carneiro_Rossi_Interest_exchange_Rate_nexus.pdf
    File Function: First version, 2013
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    Bibliographic Info

    Paper provided by Hochschule fuer Technik und Wirtschaft, Berlin in its series Competence Centre on Money, Trade, Finance and Development with number 1302.

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    Length: 21 pages
    Date of creation: May 2013
    Date of revision:
    Publication status: Published in Berlin Working Papers on Money, Finance, Trade and Development, May 2013
    Handle: RePEc:mtf:wpaper:1302

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    Web page: http://finance-and-trade.htw-berlin.de

    Related research

    Keywords: working paper; daadpartnership; finance-and-trade;

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    1. Dubravko Mihaljek & Frank Packer, 2010. "Derivatives in emerging markets," BIS Quarterly Review, Bank for International Settlements, December.
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