The Impact of Price Uncertainty : A Study of Brazilian Exchange Rate Policy book cover
1st Edition

The Impact of Price Uncertainty
A Study of Brazilian Exchange Rate Policy

ISBN 9781138633636
Published August 22, 2018 by Routledge
284 Pages

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Book Description

Originally published in 1979. This book addresses three questions regarding uncertainty in economic life: how do we define uncertainty and use the concept meaningfully to provide conclusions; how can the level of uncertainty associated with a particular variable of economic interest be measured; and does experience provide any support for the view that uncertainty really matters. It develops a theory of the effect of price uncertainty on production and trade, takes a graphical approach to look at effects of a mean preserving spread to create rules for ordering distributions, and finishes with an econometric analysis of the effects of Brazil’s adoption of a crawling peg in reducing real exchange rate uncertainty. This is an important early study into the significance of uncertainty.

Table of Contents

Preface 1. Introduction 2. Exporting as a Decision Under Uncertainty: The Basic Model 3. The Potential Exporter Under Uncertainty: Extensions of the Basic Model 4. Measuring Changes in Uncertainty 5. Relative Price Incentives to Export: Brazilian Commercial and Exchange Policies and Their Effects 6. An Econometric Test of the Uncertainty Hypothesis 7. Conclusion: Some Observations on Price Uncertainty and Trade. Appendices

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