A taxa de câmbio real e a restrição externa: uma proposta de releitura com elasticidades endógenas

This paper investigates a topic of the agenda about growth models, emphasizing the elaboration of an external constrained model with endogenous elasticity, with an emphasis on real exchange rate level as main tool for the economic development. The model is anchored in Kaldor, Thirlwall and Barbosa Filho's models and it will demonstrate that external constraint changes in the course of time.

Vulnerabilidade externa e composição da posição internacional de investimentos: Brasil 2001-2010

The aim of this paper is to indicate that there was a significant change in the composition of the Brazilian International Investment Position in the period 2001-2010: international reserves became higher than the external debt and decreased the share of foreign liabilities denominated in foreign currency, getting smaller that the participation of the external liabilities denominated in domestic currency. These tend to suffer a double devaluation (prices and exchange rates) in times of crisis, thus characterizing the reduction of the external vulnerability in the financial sphere as evidenced in the global crisis hatched in 2008.