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Dinâmica da taxa de câmbio em uma economia monetária periférica: uma abordagem keynesiana [Dynamics of the exchange rate in a peripheral monetary economy: a keynesian approach]


  • Rogerio P. de Andrade


  • Daniela Magalhães Prates



The purpose of this paper is to discuss, from a Keynesian analytical perspective, the determination of exchange rates in a peripheral monetary economy. Initially, the paper approaches the essential properties of an open monetary economy. Next, it presents the basic proposals of the Post Keynesian view of exchange rate determination, which was developed chiefly by John Harvey, who, nevertheless, does not discuss the specific causes of exchange rates behaviour in "emerging" peripheral economies. Finally, after re-examining the idea of "peripheral condition," the paper approaches the historical and institutional peculiarities associated with the way in which peripheral economies are integrated in the modern international monetary and financial system.

Suggested Citation

  • Rogerio P. de Andrade & Daniela Magalhães Prates, 2012. "Dinâmica da taxa de câmbio em uma economia monetária periférica: uma abordagem keynesiana [Dynamics of the exchange rate in a peripheral monetary economy: a keynesian approach]," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 22(2), pages 235-257, May-Augus.
  • Handle: RePEc:nov:artigo:v:22:y:2012:i:2:p:235-257

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    More about this item


    exchange rates; monetary economy; Keynesian economics; centre-periphery;

    JEL classification:

    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F30 - International Economics - - International Finance - - - General
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General


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