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O comportamento cambial brasileiro a partir da flutuação da moeda em 1999: apreciação ou depreciação?


  • Brum, Argemiro Luís
  • Kettenhuber Muller, Patrícia


Este trabalho tem como objetivo principal o estudo do comportamento da taxa de câmbio a partir da flutuação da moeda brasileira em 1999 – momento em que o Brasil adotou o regime de câmbio flutuante. Analisa-se, através do modelo de paridade de poder de compra, se efetivamente a moeda brasileira se apreciou ou depreciou nos nove anos considerados e em que dimensão isto ocorreu. Após a comparação entre a taxa de câmbio efetivamente praticada e a taxa cambial de paridade entre 1999 e 2007, verifica-se a influência exercida pela taxa de câmbio na balança comercial brasileira. This work aims mainly to study the behavior of the exchange rate from the floating of the Brazilian currency in 1999 - when Brazil adopted a floating exchange rate regime. It is analyzed through the model of purchasing power parity, is actually the Brazilian currency has appreciated or depreciated in the nine years considered and that this dimension occurred. After comparing the exchange rate actually charged and the exchange rate parity between 1999 and 2007, there is the influence of exchange rate on the Brazilian trade balance.

Suggested Citation

  • Brum, Argemiro Luís & Kettenhuber Muller, Patrícia, 2010. "O comportamento cambial brasileiro a partir da flutuação da moeda em 1999: apreciação ou depreciação?," Gestión Joven "Revista de la Agrupación Joven Iberoamericana de Contabilidad y Administración de Empresas". Young Management "Journal of the Young Iberomerican Group of Accounting and Business Adminis, Asociación Española de Contabilidad y Administración de Empresas (AECA). Spanish Accounting and Business Administration Association., issue 6, December.
  • Handle: RePEc:ges:articl:2008-10:24-43

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    References listed on IDEAS

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    3. Varga, G., 1999. "Índice de Sharpe e outros Indicadores de Performance Aplicados a Fundos de Ações Brasileiros," Finance Lab Working Papers flwp_12, Finance Lab, Insper Instituto de Ensino e Pesquisa.
    4. Studart, Rogerio, 2000. "Financial opening and deregulation in Brazil in the 1990s Moving towards a new pattern of development financing?," The Quarterly Review of Economics and Finance, Elsevier, vol. 40(1), pages 25-44.
    5. Fonseca, Nelson & Bressan, Aureliano & Iquiapaza, Robert & Guerra, João, 2007. "Análise do Desempenho Recente de Fundos de Investimento no Brasil
      [Recent Performance Analysis of Mutual Funds in Brazil]
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    6. Black, Fischer, 1972. "Capital Market Equilibrium with Restricted Borrowing," The Journal of Business, University of Chicago Press, vol. 45(3), pages 444-455, July.
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