Exchange rates and economic integration: an empirical analysis for Brazil and Argentina
DOI:
https://doi.org/10.5902/141465093471Keywords:
Co-integration, Coordination of politics, Economic integrationAbstract
This work objectifies to verify the behavior of the rates of exchanges of Brazil and Argentina tends in view a possible definition of harmonized politics. The analysis bases on a procedure co-integration econométrico in agreement with Johansen (1988). The hypothesis of the relative version of PPC for Brazil and Argentina is accepted and, in agreement with the statistics, it is ended that a relationship of convergence of long period exists for the two models. For the establishment of a politics exchange coordinate or common and larger integration levels for Mercosul should happen, first, for a phase of harmonization of another politics, as the monetary, that harmonizes the internal price indexes of each State-part and its interest rates; these were the significant variables in the enlarged model of correction of mistakes. The model of correction of mistakes demonstrated that shocks are almost reverted in the same proportion for Brazil and Argentina.
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