Publication: Coffee policy and currency devaluations during the 30s
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Language
eng
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Década de 30
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BR
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dARK
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Copyright Holder
Instituto de Pesquisa Econômica Aplicada (Ipea)
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Acesso Aberto
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Reproduction of this text and the data it contains is allowed as long as the source is cited. Reproductions for commercial purposes are prohibited
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Discussion Paper 6 : Coffee policy and currency devaluations during the 30s, Política do café e desvalorizações cambiais durante a década de 30
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Cardoso, Eliana A.
Advisor
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Speaker / Moderator / Discussant
Abstract
Mostra que o comportamento da taxa de câmbio durante a década de 30 respondeu aos desequilíbrios externos gerados pela política de sustentação do café. Demonstra que o produto industrial, durante este período, cresceu tanto face a depreciações reais quanto face a apreciações reais. Argumenta também que os efeitos gastos foram mais importantes nos anos 30 que os efeitos preços, induzidos pelas políticas fiscais e monetárias.
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This paper shows that the exchange rate behavior during the 30 responded to external imbalances generated by the coffee support policy. It shows that the industrial production during this period has grown so much in response to real depreciation as compared to real appreciations. Also argues that spending effects were most important in the 30's that the price effects induced by fiscal and monetary policies.