A taxa de câmbio real e a restrição externa: uma proposta de releitura com elasticidades endógenas

Abstract

a taxa de câmbio real e a restrição externa: uma proposta de releitura com elasticidades endógenas Marcos aDolFo riBEiro FErrari FáBio nEvEs P. FrEitas nElson BarBosa Filho*Real exchange rate and external constraint. This paper investigates a topic of the agenda about growth models, emphasizing the elaboration of an external constrained model with endogenous elasticity, with an emphasis on real exchange rate level as main tool for the economic development. The model is anchored in Kaldor, Thirlwall and Barbosa Filho's models and it will demonstrate that external constraint changes in the course of time.

Real Exchange Rate and Economic Growth: New Empirical Evidence

“…Therefore, exchange rate policy can affect growth not only by improving short run competitiveness but also by increasing incentives to invest and to foster technological development. Indeed, as Missio and Jayme (), Ferrari et al () and Bresser‐Pereira et al (, chapter 4) highlighted, the level of RER can affect long run economic growth through its endogenous effects on income elasticities of exports and imports, as well as through changes in short run price elasticities.…”

Profit margins, exchange rates and structural change: empirical evidences for the period 1996-2017

“…According to a wide range of literature, the devaluation of the exchange rate exerts a positive effect on growth and economic development, as argued by Ferrari, Freitas & Barbosa-Filho (2013), Guzman, Ocampo & Stiglitz (2018), Rapetti (2016) and Rodrik (2008). These authors emphasize the role of the exchange rate level on the expansion of exports and investments, but they do not explore the channels that may lead to such results.…”

Modelos de crescimento com restrição no balanço de pagamentos: contexto histórico, desdobramentos recentes e a busca por uma nova agenda

“…Desta forma, o país passa por uma mudança estrutural desfavorável, reduzindo assim sua taxa de crescimento de longo prazo. Ferrari et al (2013) assumem uma economia de dois setores que produz apenas bens comercializáveis de alta e de baixa tecnologia. No modelo proposto pelos autores uma desvalorização cambial modifica a composição setorial da economia ao elevar a participação das exportações de alta tecnologia na pauta de exportações e reduzir a participação das importações de alta tecnologia na pauta de importações, impactando positivamente na taxa de crescimento de equilíbrio.…”