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The aftermath of 2008 turmoil on Brazilian economy: Tsunami or “Marolinha”?
Financial events in 2008 had global impacts. We test whether U.S downturn had an impact on Brazilian economic activity and if it was unusual. We run policy ineffectiveness test (Pesaran and Smith [2014, 2016]) and Chow ...
How to disentangle exchange rate misalignment using a Global approach and economic identifying restrictions
Exchange rates are important macroeconomic prices and changes in these rates affect economic activ- ity, prices, interest rates, and trade flows. Methodologies have been developed in empirical exchange rate misalignment ...