Opening the economy maintaining the level of employment and foreign exchange policy upside down

Vol. 14 No. 4 (1994)

Oct-Dec / 1994
Published October 1, 1994
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Arvate, Paulo Roberto. 1994. “Opening the Economy Maintaining the Level of Employment and Foreign Exchange Policy Upside down”. Brazilian Journal of Political Economy 14 (4):559-70. https://doi.org/10.1590/0101-31571994-0743.
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Opening the economy maintaining the level of employment and foreign exchange policy upside down

Paulo Roberto Arvate
Da Fundação Getúlio Vargas e da Pontifícia Universidade Católica, São Paulo/SP, Brasil.
Brazilian Journal of Political Economy, Vol. 14 No. 4 (1994), Oct-Dec / 1994, Pages 559-570

Abstract

The purpose of this paper is to demonstrate under which circumstances a policy
designed to open the economy may not succeed in changing employment level. This kind
of circumstances happens because in this model it is considered both internal and external
dynamics to a correct arbitrage of real exchange rate.

JEL Classification: F16; F13; F43.


Keywords: Liberalization trade opening exchange rate inflation