The validity of the purchase power parity in Brazil post real plan.
Autor(a) principal: | |
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Data de Publicação: | 2011 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Sinergia (Rio Grande. Online) |
Texto Completo: | https://periodicos.furg.br/sinergia/article/view/794 |
Resumo: | The concept of Purchasing Power Parity (PPP) is examined here for its applicability to Brazil in a period characterized for low taxes of inflation and commercial opening. PPP is tested through the use of unit root tests and the technique of cointegration. Based on monthly data covering the period of 1994–2006, cointegration tests of price indices and exchange rates between Brazil and USA are conducted. The results for the whole data series provide no evidence in favor of the long-term applicability of PPP due to the structural break caused by the exchange rate regime switch occurred in January 1999. Yet, when dividing the series into two periods – before January 1999 and after it –, there is relatively strong evidence in favor of it as a cointegration concept for the previous period. For the subsequent period, however, no long-term equilibrium relationship is found. This can be a result of the short period analyzed, as long as the PPP concept is strongly related to long-term periods. |
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The validity of the purchase power parity in Brazil post real plan.A validade da paridade do poder de compra no Brasil Pós-Plano Real. Paridade do Poder de Compra (PPC)BrasilPlano RealThe concept of Purchasing Power Parity (PPP) is examined here for its applicability to Brazil in a period characterized for low taxes of inflation and commercial opening. PPP is tested through the use of unit root tests and the technique of cointegration. Based on monthly data covering the period of 1994–2006, cointegration tests of price indices and exchange rates between Brazil and USA are conducted. The results for the whole data series provide no evidence in favor of the long-term applicability of PPP due to the structural break caused by the exchange rate regime switch occurred in January 1999. Yet, when dividing the series into two periods – before January 1999 and after it –, there is relatively strong evidence in favor of it as a cointegration concept for the previous period. For the subsequent period, however, no long-term equilibrium relationship is found. This can be a result of the short period analyzed, as long as the PPP concept is strongly related to long-term periods.Este artigo analisa a validade da Paridade do Poder de Compra (PPC) no Brasil em um período caracterizado por baixas taxas de inflação e abertura comercial. Com dados mensais de 1994 a 2006, utilizaram-se as metodologias de verificação de raiz unitária e co-integração para testar a PPC nas séries dos índices de preços e taxa de câmbio entre Brasil e EUA. Para o período total não se verificou a PPC devido a quebra estrutural ocasionada pela troca de regime cambial ocorrida no Brasil em janeiro de 1999. Para o período anterior a troca de regime obteve-se co-integração, entretanto, para o período posterior não foi encontrada nenhuma relação de equilíbrio de longo prazo. Isso pode ser reflexo do curto período considerado, uma vez que a PPC é um conceito de longo prazo e, também, do regime cambial adotado.Universidade Federal do Rio Grande, FURG. RG/RS - BRASIL.2011-06-28info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://periodicos.furg.br/sinergia/article/view/794SINERGIA - Revista do Instituto de Ciências Econômicas, Administrativas e Contábeis; v. 12 n. 1 (2008); 39-492236-76080102-7360reponame:Sinergia (Rio Grande. Online)instname:Universidade Federal do Rio Grande (FURG)instacron:FURGporhttps://periodicos.furg.br/sinergia/article/view/794/437Copyright (c) 2014 SINERGIA - Revista do Instituto de Ciências Econômicas, Administrativas e Contábeisinfo:eu-repo/semantics/openAccessFeijó, Flavio TosiMorales, Rodrigo Rabassa2023-03-22T15:44:55Zoai:periodicos.furg.br:article/794Revistahttps://periodicos.furg.br/sinergiaPUBhttps://periodicos.furg.br/sinergia/oaisinergiarevistafurg@gmail.com || professorquintana@hotmail.com2236-76080102-7360opendoar:2023-03-22T15:44:55Sinergia (Rio Grande. Online) - Universidade Federal do Rio Grande (FURG)false |
dc.title.none.fl_str_mv |
The validity of the purchase power parity in Brazil post real plan. A validade da paridade do poder de compra no Brasil Pós-Plano Real. |
title |
The validity of the purchase power parity in Brazil post real plan. |
spellingShingle |
The validity of the purchase power parity in Brazil post real plan. Feijó, Flavio Tosi Paridade do Poder de Compra (PPC) Brasil Plano Real |
title_short |
The validity of the purchase power parity in Brazil post real plan. |
title_full |
The validity of the purchase power parity in Brazil post real plan. |
title_fullStr |
The validity of the purchase power parity in Brazil post real plan. |
title_full_unstemmed |
The validity of the purchase power parity in Brazil post real plan. |
title_sort |
The validity of the purchase power parity in Brazil post real plan. |
author |
Feijó, Flavio Tosi |
author_facet |
Feijó, Flavio Tosi Morales, Rodrigo Rabassa |
author_role |
author |
author2 |
Morales, Rodrigo Rabassa |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Feijó, Flavio Tosi Morales, Rodrigo Rabassa |
dc.subject.por.fl_str_mv |
Paridade do Poder de Compra (PPC) Brasil Plano Real |
topic |
Paridade do Poder de Compra (PPC) Brasil Plano Real |
description |
The concept of Purchasing Power Parity (PPP) is examined here for its applicability to Brazil in a period characterized for low taxes of inflation and commercial opening. PPP is tested through the use of unit root tests and the technique of cointegration. Based on monthly data covering the period of 1994–2006, cointegration tests of price indices and exchange rates between Brazil and USA are conducted. The results for the whole data series provide no evidence in favor of the long-term applicability of PPP due to the structural break caused by the exchange rate regime switch occurred in January 1999. Yet, when dividing the series into two periods – before January 1999 and after it –, there is relatively strong evidence in favor of it as a cointegration concept for the previous period. For the subsequent period, however, no long-term equilibrium relationship is found. This can be a result of the short period analyzed, as long as the PPP concept is strongly related to long-term periods. |
publishDate |
2011 |
dc.date.none.fl_str_mv |
2011-06-28 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://periodicos.furg.br/sinergia/article/view/794 |
url |
https://periodicos.furg.br/sinergia/article/view/794 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://periodicos.furg.br/sinergia/article/view/794/437 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Universidade Federal do Rio Grande, FURG. RG/RS - BRASIL. |
publisher.none.fl_str_mv |
Universidade Federal do Rio Grande, FURG. RG/RS - BRASIL. |
dc.source.none.fl_str_mv |
SINERGIA - Revista do Instituto de Ciências Econômicas, Administrativas e Contábeis; v. 12 n. 1 (2008); 39-49 2236-7608 0102-7360 reponame:Sinergia (Rio Grande. Online) instname:Universidade Federal do Rio Grande (FURG) instacron:FURG |
instname_str |
Universidade Federal do Rio Grande (FURG) |
instacron_str |
FURG |
institution |
FURG |
reponame_str |
Sinergia (Rio Grande. Online) |
collection |
Sinergia (Rio Grande. Online) |
repository.name.fl_str_mv |
Sinergia (Rio Grande. Online) - Universidade Federal do Rio Grande (FURG) |
repository.mail.fl_str_mv |
sinergiarevistafurg@gmail.com || professorquintana@hotmail.com |
_version_ |
1797041739379245056 |