000			01645naa a2200217uu 4500
001			7120416404319
003			OSt
005			20190212105710.0
008			071204s2003 bl ||||gr |0|| 0 por d
100	1		_aARIDA, Persio _933204
245	1	0	_aAinda sobre a conversibilidade
260			_aSão Paulo : _bEditora, _cjul./set. 2003
520	3		_aThe paper introduces a 2x2 taxonomy of exchange rate regimes in terms of convertibility restrictions (yes or no) and the form of price determination (floating versus managed exchange rates). It is argued that the convertibility is an important signal to private agents. Free convertibility in presence of fixed exchange rates reinforces the credibility of the peg; the presence of restrictions to convertibility in face of floating exchange rates reveals lack of confidence of Central Bank on the stability of the monetary standard. The former was the case of Argentina before the demise of the Cavallo plan; the latter is the case of Brazil today. The consolidation of monetary stability in present circumstances requires a sustained fiscal effort; a pre-announced process of gradual lifting of convertibility restrictions, however, may somehow alleviate such effort, thereby rendering it politically feasible
590			_aRevista de Economia Política
590			_aJulho-Setembro 2003
590			_av. 23, n. 3(91)
773	0	8	_tRevista de Economia Política = Brazilian Journal of Political Economy _g23, 3 , p. 135-142 _dSão Paulo : Editora, jul./set. 2003 _xISSN 01013157 _w
942			_cS
998			_a20071204 _b1640^b _cMariana
998			_a20140204 _b1522^b _ckarina
999			_aConvertido do Formato PHL _bPHL2MARC21 1.1 _c25178 _d25178
041			_apor