Este trabalho tem por objetivo identificar alguns dos determinantes de longo prazo da taxa de cambio real brasileira para o periodo 1947/95. O modelo teorico sugere que as variaveis relevantes sao a taxa de cambio real, a divida externa e as exportacoes liquidas. O modelo empirico, utilizando...

This paper presents a model for the long-run determinants of the Brazilian real exchange rate for the period 1947/95. This is a simple representative agent model that links the exchange rate, external debt and net exports. It is assumed that: a) the country pays an interest rate on its debt...