Dinâmica da taxa de câmbio em uma economia monetária periférica: Uma abordagem Keynesiana

Abstract

The purpose of this paper is to discuss, from a Keynesian analytical perspective, the determination of exchange rates in a peripheral monetary economy. Initially, the paper approaches the essential properties of an open monetary economy. Next, it presents the basic proposals of the Post Keynesian view of exchange rate determination, which was developed chiefly by John Harvey, who, nevertheless, does not discuss the specific causes of exchange rates behaviour in "emerging" peripheral economies. Finally, after reexamining the idea of "peripheral condition," the paper approaches the historical and institutional peculiarities associated with the way in which peripheral economies are integrated in the modern international monetary and financial system.