ETDs @PUC-Rio
| Título: | COMMODITY PRICES AND EXCHANGES RATES IN THE COVID-19 PANDEMIC | ||||||||||||
| Autor: |
MATEUS DELLA GIUSTINA DE AGUIAR |
||||||||||||
| Colaborador(es): |
MARCIO GOMES PINTO GARCIA - Orientador CARLOS VIANA DE CARVALHO - Coorientador |
||||||||||||
| Catalogação: | 06/OUT/2023 | Língua(s): | ENGLISH - UNITED STATES |
||||||||||
| Tipo: | TEXT | Subtipo: | THESIS | ||||||||||
| Notas: |
[pt] Todos os dados constantes dos documentos são de inteira responsabilidade de seus autores. Os dados utilizados nas descrições dos documentos estão em conformidade com os sistemas da administração da PUC-Rio. [en] All data contained in the documents are the sole responsibility of the authors. The data used in the descriptions of the documents are in conformity with the systems of the administration of PUC-Rio. |
||||||||||||
| Referência(s): |
[pt] https://www.maxwell.vrac.puc-rio.br/projetosEspeciais/ETDs/consultas/conteudo.php?strSecao=resultado&nrSeq=64234&idi=1 [en] https://www.maxwell.vrac.puc-rio.br/projetosEspeciais/ETDs/consultas/conteudo.php?strSecao=resultado&nrSeq=64234&idi=2 |
||||||||||||
| DOI: | https://doi.org/10.17771/PUCRio.acad.64234 | ||||||||||||
| Resumo: | |||||||||||||
|
It is a consensus in economic theory that the increase in the terms of
trade leads to an appreciation of the real exchange rate. However, during the
recent period of the COVID-19 pandemic, this relationship appears to have
been disrupted, as there has been a significant rise in commodity prices but the
real exchange rates of many countries have not appreciated correspondingly.
The aim of this M.Sc. Thesis is to examine the reasons for this deviation
from the established correlation. I estimate several SVARs for commodity
exporting countries with a recursive block identification scheme and conclude
that structural shocks other than the commodity one explained the real
exchange rate depreciation in the pandemic period. In 2020, the global risk
was the main factor responsible for depreciating the exchange rate, while in
2021 the high country risk, specially for emerging countries, and the low level
of the domestic interest rate appear as the main factors responsible for this
break.
|
|||||||||||||
|
|||||||||||||