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|z 9781451935486
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|a 1018-5941
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|a BD-DhAAL
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|a Hoffmaister, Willy.
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|a Cyclical Fluctuations in Brazil's Real Exchange Rate :
|b The Role of Domestic and External Factors /
|c Willy Hoffmaister, Carlos Medeiros, Pierre-Richard Agenor.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1997.
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|a 1 online resource (32 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper examines the effects of capital inflows and domestic factors on Brazil's real exchange rate. It describes the analytical framework, and then estimates a near-VAR model linking capital flows, interest rate differentials, government spending, money-base velocity, and the temporary component of the real exchange rate (TCRER). Generalized variance decompositions indicate that world interest rate shocks largely explain medium-term fluctuations in capital flows and the TCRER. Generalized impulse response functions show that a reduction in the world interest rate (and, to a lesser extent, an increase in government spending) have significant effects on the TCRER and capital flows.
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|a Mode of access: Internet
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|a Agenor, Pierre-Richard.
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|a Medeiros, Carlos.
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|a IMF Working Papers; Working Paper ;
|v No. 1997/128
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1997/128/001.1997.issue-128-en.xml
|z IMF e-Library
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