A análise dos regimes de taxa de câmbio para o Mercosul baseada no bem-estar

Abstract

This paper analyzes the Mercosur s exchange arrangement toward a welfare-based approach. Therefore it was used an open-economy macroeconomic dynamic general equilibrium model that incorporates three economies with nominal rigidities and imperfect competition in product and factors markets. The main conclusion points out to the adequate exchange arrangement for economic bloc is Argentine and Brazil should fix each other their local currencies and set free fluctuation in relationship with the remainder international economies.