Credibility and reputation: an application of the "external circumstances" model for the Real Plan

dc.creator	Tejada César A. O.
dc.creator	Portugal Marcelo S.
dc.date	2002
dc.date.accessioned	2013-05-30T10:50:24Z
dc.date.available	2013-05-30T10:50:24Z
dc.date.issued	2013-05-30
dc.identifier	http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402002000400006
dc.identifier	http://www.doaj.org/doaj?func=openurl&genre=article&issn=00347140&date=2002&volume=56&issue=4&spage=695
dc.identifier.uri	http://koha.mediu.edu.my:8181/jspui/handle/123456789/4224
dc.description	This paper analyzes credibility and reputation aspects of the Brazilian economic policy between August 1994 and December 1998. It uses an ''external circumstances'' model, which can be applied to countries with fixed or crawling-peg exchange rate policies. The model assumes that no government can conduct its economic policy with the single objective of inflation control, thoroughly ignoring the unemployment and growth paths. Therefore, in the presence of ''external circumstances'' (unexpected exogenous shocks) even a strong anti-inflationary government can be forced to devalue its exchange rate. The results here show that the government followed a consistent policy with inflation control while allowing for a gradual recovery of the competitiveness level.
dc.publisher	Fundação Getúlio Vargas
dc.source	Revista Brasileira de Economia
dc.subject	credibility
dc.subject	inflation
dc.subject	competitiveness
dc.subject	Real Plan
dc.title	Credibility and reputation: an application of the "external circumstances" model for the Real Plan

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