期刊名称：SINERGIA - Revista do Instituto de Ciências Econômicas, Administrativas e Contábeis
印刷版ISSN：2236-7608
出版年度：2011
卷号：12
期号：1
页码：39-49
语种：Portuguese
出版社：Universidade Federal do Rio Grande, FURG. RG/RS - BRASIL.
摘要：The concept of Purchasing Power Parity (PPP) is examined here for its applicability to Brazil in a period characterized for low taxes of inflation and commercial opening. PPP is tested through the use of unit root tests and the technique of cointegration. Based on monthly data covering the period of 1994–2006, cointegration tests of price indices and exchange rates between Brazil and USA are conducted. The results for the whole data series provide no evidence in favor of the long-term applicability of PPP due to the structural break caused by the exchange rate regime switch occurred in January 1999. Yet, when dividing the series into two periods – before January 1999 and after it –, there is relatively strong evidence in favor of it as a cointegration concept for the previous period. For the subsequent period, however, no long-term equilibrium relationship is found. This can be a result of the short period analyzed, as long as the PPP concept is strongly related to long-term periods.
关键词：Paridade do Poder de Compra (PPC), Brasil, Plano Real
