From capital inflow to inflation: the role of exchange rate and government debt

Detalhes bibliográficos
Autor(a) principal: Muinhos,Marcelo Kfoury
Data de Publicação: 2000
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Revista Brasileira de Economia (Online)
Texto Completo: http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402000000100003
Resumo: As an extension of Muinhos (1998), which found a negative relationship between capital inflows and inflation in Brazil, this paper attempts to obtain the intermediate variables that connect this relationship. Based on a three-good model of Agenor and Montiel (1996) it tests the real exchange rate and government debt as the intermediate using time series' tools, such as error correction VAR, impulse response function, and Granger causality, for the period that covers from 1975 to 1994. It concludes that in a context of capital inflows, there is an appreciation of the real exchange rate that causes a decrease in wages and inflation. Another possibility is that capital inflows decrease the government debt and that reduction affects negatively inflation.
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spelling From capital inflow to inflation: the role of exchange rate and government debtcapital inflowinflationtime seriesreal exchange rateAs an extension of Muinhos (1998), which found a negative relationship between capital inflows and inflation in Brazil, this paper attempts to obtain the intermediate variables that connect this relationship. Based on a three-good model of Agenor and Montiel (1996) it tests the real exchange rate and government debt as the intermediate using time series' tools, such as error correction VAR, impulse response function, and Granger causality, for the period that covers from 1975 to 1994. It concludes that in a context of capital inflows, there is an appreciation of the real exchange rate that causes a decrease in wages and inflation. Another possibility is that capital inflows decrease the government debt and that reduction affects negatively inflation.Fundação Getúlio Vargas2000-01-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402000000100003Revista Brasileira de Economia v.54 n.1 2000reponame:Revista Brasileira de Economia (Online)instname:Fundação Getulio Vargas (FGV)instacron:FGV10.1590/S0034-71402000000100003info:eu-repo/semantics/openAccessMuinhos,Marcelo Kfouryeng2010-09-20T00:00:00Zoai:scielo:S0034-71402000000100003Revistahttp://bibliotecadigital.fgv.br/ojs/index.php/rbe/issue/archivehttps://old.scielo.br/oai/scielo-oai.php||rbe@fgv.br1806-91340034-7140opendoar:2010-09-20T00:00Revista Brasileira de Economia (Online) - Fundação Getulio Vargas (FGV)false
dc.title.none.fl_str_mv From capital inflow to inflation: the role of exchange rate and government debt
title From capital inflow to inflation: the role of exchange rate and government debt
spellingShingle From capital inflow to inflation: the role of exchange rate and government debt
Muinhos,Marcelo Kfoury
capital inflow
inflation
time series
real exchange rate
title_short From capital inflow to inflation: the role of exchange rate and government debt
title_full From capital inflow to inflation: the role of exchange rate and government debt
title_fullStr From capital inflow to inflation: the role of exchange rate and government debt
title_full_unstemmed From capital inflow to inflation: the role of exchange rate and government debt
title_sort From capital inflow to inflation: the role of exchange rate and government debt
author Muinhos,Marcelo Kfoury
author_facet Muinhos,Marcelo Kfoury
author_role author
dc.contributor.author.fl_str_mv Muinhos,Marcelo Kfoury
dc.subject.por.fl_str_mv capital inflow
inflation
time series
real exchange rate
topic capital inflow
inflation
time series
real exchange rate
description As an extension of Muinhos (1998), which found a negative relationship between capital inflows and inflation in Brazil, this paper attempts to obtain the intermediate variables that connect this relationship. Based on a three-good model of Agenor and Montiel (1996) it tests the real exchange rate and government debt as the intermediate using time series' tools, such as error correction VAR, impulse response function, and Granger causality, for the period that covers from 1975 to 1994. It concludes that in a context of capital inflows, there is an appreciation of the real exchange rate that causes a decrease in wages and inflation. Another possibility is that capital inflows decrease the government debt and that reduction affects negatively inflation.
publishDate 2000
dc.date.none.fl_str_mv 2000-01-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402000000100003
url http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402000000100003
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 10.1590/S0034-71402000000100003
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv text/html
dc.publisher.none.fl_str_mv Fundação Getúlio Vargas
publisher.none.fl_str_mv Fundação Getúlio Vargas
dc.source.none.fl_str_mv Revista Brasileira de Economia v.54 n.1 2000
reponame:Revista Brasileira de Economia (Online)
instname:Fundação Getulio Vargas (FGV)
instacron:FGV
instname_str Fundação Getulio Vargas (FGV)
instacron_str FGV
institution FGV
reponame_str Revista Brasileira de Economia (Online)
collection Revista Brasileira de Economia (Online)
repository.name.fl_str_mv Revista Brasileira de Economia (Online) - Fundação Getulio Vargas (FGV)
repository.mail.fl_str_mv ||rbe@fgv.br
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