WorldCat Identities

Pechman, Clarice

Works: 4 works in 19 publications in 3 languages and 338 library holdings
Genres: Case studies 
Roles: Author
Classifications: HG3915.5, 332.456
Publication Timeline
Most widely held works by Clarice Pechman
Foreign exchange black markets in Latin America by Robert E Grosse( Book )

11 editions published in 1994 in English and Spanish and held by 277 WorldCat member libraries worldwide

"Examines how and why foreign exchange black (i.e., parallel) markets function, as well as their economic impact. Includes case studies for Argentina, Brazil, Colombia, Jamaica, and Peru. Valuable contribution represents one of the few in-depth studies of this topic"--Handbook of Latin American Studies, v. 57
O dólar paralelo no Brasil by Clarice Pechman( Book )

5 editions published in 1984 in Portuguese and held by 47 WorldCat member libraries worldwide

A Model of the black market for dollars( )

2 editions published in 1983 in English and held by 12 WorldCat member libraries worldwide

The paper develops an analytical framework to discuss the determinants of the premium in the black market for dollars in Brazil. While the specific details of the model were chosen with the Brazilian case in mind, the structure of the model is quite general and suitable for application to black markets for currency elsewhere. The building blocks of the model are three. A capital asset pricing approach is used to derive an asset demand for dollars, or equivalently a real yield premium in market equilibrium. The current account of the black market is specified in terms of the sources and uses in the flow market for dollars, mainly smuggling proceeds and flows associated with tourism. The model is closed by a model of official exchange rate policy and the assumption of rational expectations. In comparative static applications the model has the properties of current account oriented models of the exchange rate. Unanticipated current account improvements due, for example, to increased export taxes that promote smuggling, lead to a decline in the premium. Asset market disturbances, such as increased inflation uncertainty or increased variability in the official real exchange rate policy are shown to have ambiguous effects on the premium. In applying the distinction between anticipated and unanticipated disturbances it is shown that the current expectation of a future maxi-devaluation leads to an immediate rise in the premium, with a subsequent decline when the maxi actually takes place. The paper concludes with a discussion of seasonal patterns in the premium. It is shown-that for "always" anticipated disturbances there is no jump in the premium, but a gradual adjustment that precedes the actual seasonal in the current account
Inflação zero -- Brasil, Argentina e Israel( Book )

1 edition published in 1986 in Portuguese and held by 2 WorldCat member libraries worldwide

Audience Level
Audience Level
  Kids General Special  
Audience level: 0.54 (from 0.50 for Foreign ex ... to 0.77 for O dólar p ...)

Foreign exchange black markets in Latin America