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Underinvoicing of exports, overinvoicing of imports, and the dollar premium on the black market

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  • Barbosa, Fernando de Holanda
  • Holanda, Marcos Costa
  • Cysne, Rubens Penha

Abstract

This paper is divided in two parts. The first is a theoretical development of the question of under or overinvoicing of exports and imports within the context of a model of choice between risky and secure assets. The second part attempts to ascertain the empirical evidence for the Brazilian economy. It is concluded that the hypothesis that the black market dollar premium plays a role in this process can not be rejected.
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Suggested Citation

  • Barbosa, Fernando de Holanda & Holanda, Marcos Costa & Cysne, Rubens Penha, 1988. "Underinvoicing of exports, overinvoicing of imports, and the dollar premium on the black market," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 124, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    • Handle: RePEc:fgv:epgewp:124
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    References listed on IDEAS

    as
    1. Hendry, David F. & Pagan, Adrian R. & Sargan, J.Denis, 1984. "Dynamic specification," Handbook of Econometrics, in: Z. Griliches† & M. D. Intriligator (ed.), Handbook of Econometrics, edition 1, volume 2, chapter 18, pages 1023-1100, Elsevier.
    2. Francisco Lopes & Eduardo M. Modiano, 1985. "Determinantes externos e internos da atividade economica no Brasil," Textos para discussão 90, Department of Economics PUC-Rio (Brazil).
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    Cited by:

    1. Brandão, Antônio Salazar Pessôa, 1988. "The brazilian agricultural policy experience: rationale and future directions," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 131, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    2. Francis A. Lees & James M. Botts & Rubens Penha Cysne, 1990. "Income and Demand Policies in Brazil," Palgrave Macmillan Books, in: Banking and Financial Deepening in Brazil, chapter 3, pages 55-87, Palgrave Macmillan.
    3. Chen, Jianda & Choi, Samuel, 2020. "A Practical Mathematical Model For Implicit Export Taxes," Studies in Applied Economics 156, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
    4. Cysne, Rubens Penha, 1988. "Monetary correction and accounting with real interest," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 128, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    5. Cysne, Rubens Penha, 1988. "Brazilian economy in the eighties and the debt crisis," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 130, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    6. Silveira, Antonio Maria da, 1990. "The Indetermination of Senior," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 167, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    7. Silveira, Antonio Maria da, 1990. "The public choice perspective and Knight's institutionalist bent," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 166, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    8. Ferreira, Pedro Cavalcanti, 1994. "Public expenditures taxation and welfare measurement," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 239, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    9. Ferreira, Pedro Cavalcanti, 1994. "A note on policy, the composition of public expenditures and economic growth," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 240, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).

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