Econ. soc. vol.17 número especial

The authors argue that the growth of foreign exchange reserves at a pace higher than that of operating defi cits in the balance of payments, coupled with signifi cant infl ows

In principle, a fi nancial crisis could have arisen in Europe even in the absence of large trade imbalances - though in practice these were one important reason for increasing

Keynes’s arguments are of obvious relevance to the Greek problem to- day. The depth of the crisis that the Greek economy has been subjected to in the cause of debt repayment is

One explanation for how the external sector has caused slower economic growth since 2010 is based on the belief that manufacturing industry in Brazil was hurt by an overvalued

Given the heterogeneity between the countries, the expectation of a dependence of the error terms and the signifi cant variation of the primary balance in a same country over

All in all, the positive performance of the labor market at the beginning of the post-crisis period was a result of the strong economic expansion fa- vored by the maintenance of a

Greater external fragility changes the expectations of the agents in- volved in the fi nancing of BOP because, before the worsening of the sol- vency condition of the external

It follows that any government market regulation or interference into normal competitive market (assumed ergodic) processes, may, in the short run, prevent the system