A long-term “equilibrium” exchange rate is estimated so that a desired result regarding the commercial balance is obtained.
The same approach can be used to project the commercial balance as a function of an established exchange rate policy. The subject is highly relevant for economical-financial projections and for guiding decisions relative to economic policy.
Different types of adjustments and hypothesis regarding projections were considered, based on evaluations of the further market parameters or taking into account the need of maintaining stable the external liability.
The final exchange rate in the period projected for 2003 is R$ 3.52/US$ considering a commercial balance of US$14.8 billion and the internal inflation (IGD-DI) of 15.23%. Almost the same exchange rate will be the estimated in order to maintain the external liability as 68% of the GDP. DOWNLOAD PDF DOCUMENT
Application of thermodynamics to the evaluation of equilibrium of fluvial networks – the river Santo Antônio basin. The analysis instrument, based on thermodynamics, has multiple applications in other areas, including economy. In the present case, the average river falls and the minimum energy dispersion theories developed by Chih Ted Yang (1971), based on the entropy concept, were applied to the stability/instability analysis of the river Santo Antônio, part of the river Grande basin. It was confirmed the trend to basin erosion, observed in previous studies relative to accelerated erosion by gullies and land slides and its distance from the dynamic equilibrium phase.
Brazil has consolidated the confidence, vis-à-vis the international community and the national public opinion, on its intention of using nuclear energy only for peaceful purposes. Some statements by authorities of the new Administration were incorrectly interpreted as a change of attitude. This has no support from previous actions of several prominent members of the present Administration. Furthermore, there are presently no reason for changing direction. However, the nuclear weapon states have commitments that cannot be forgotten.
If Brazil would continue to pay 15% p.a. of real interest, Athina Onassis, who received 100 million dollars when she completed 18 years, would transform this money into 500 million dollars when she is thirty. That is, applying 10% of her fortune (estimated to be 1 billion dollars) she would have one and a half times her present fortune. This illustrates the huge amount of interests internally paid by Brazil in the last 12 years.
It is estimated to be about 8 million cubic meters the irregular trade of ethyl alcohol in the last four years – an amount equivalent to 17% of the total alcohol consumption in the period.
Graphic Edition/Edição Gráfica:
Tuesday, 11 November 2008.