Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/91324 
Year of Publication: 
2013
Series/Report no.: 
Texto para Discussão No. 1854
Publisher: 
Instituto de Pesquisa Econômica Aplicada (IPEA), Brasília
Abstract (Translated): 
This paper has as main objective to estimate the bilateral misalignment from the methodology described by Alberola et al. (1999) for the main Brazilian trade partners. Therefore, we present the main approaches used to estimate the multilateral real exchange rates and description of the methodology used to obtain the bilateral exchange rates from such measures. Finally, according to the results obtained by Marçal (2012) and updating them for the year 2011, we obtain the bilateral misalignments against the real and the U.S. dollar. In general, European countries have significant positive misalignment against the real, against the dollar while presenting small misalignment, whether positive or negative. Brazil presents misalignment negative against the dollar, and it is possible to check the consistency of the methodology employed, especially when compared to the misalignment of the United States against the real, which showed positive misalignment.
Subjects: 
exchange rates
exchange rate misalignment
dollar
JEL: 
F31
C32
Document Type: 
Working Paper

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