| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w0541 |
| 来源ID | Working Paper 0541 |
| Three Papers on Brazilian Trade and Payments | |
| Eliana A. Cardoso; Rudiger Dornbusch | |
| 发表日期 | 1980-09-01 |
| 出版年 | 1980 |
| 语种 | 英语 |
| 摘要 | This report brings together three separate, short papers on problems of Brazilian trade and payments. The following topics are addressed: the determinants of export behavior in the manufactures sector, measures of the real exchange rate and the monetary approach applied to the external balance. In the paper on export behavior of manufactures, we report estimates of an export supply equation. We show that for the period 1959-1977 exports of manufactures were determined by productive capacity, the relative price (inclusive of subsidies) facing exporters and the domestic output gap. The equation describes well the behavior of exports and documents on export price elasticity of unity and a significant responsiveness of exports to the level of domestic demand relative to capacity. The study of real exchange rates examines a number of different empirical measures of external competitiveness. Specifically, we look at the manufactures terms of trade, the relative wholesale prices in Brazil and abroad, export prices relative to home prices and export prices relative to prices in world trade. The comparison of these real exchange rate measures points out the important role that composition effects played in Brazilian export growth. A large fraction of Brazilian exports is in the area of processed foods that experienced a particularly sharp increase in their relative price in world trade in 1968-1974. The paper dealing with the monetary approach explains reserve and exchange rate behavior in terms of domestic credit and the determinants of nominal money demand. It corrects earlier estimates in the literature and, while sustaining the success of a monetary approach, it also qualifies that approach by drawing attention to the role of monetary liabilities of the consolidated banking, system. |
| URL | https://www.nber.org/papers/w0541 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/557730 |
| 推荐引用方式 GB/T 7714 | Eliana A. Cardoso,Rudiger Dornbusch. Three Papers on Brazilian Trade and Payments. 1980. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w0541.pdf（1268KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
