Transmission of the exchange rate variation for the brazilian export prices of ethanol: a comparative study of dollar and euro
DOI:
https://doi.org/10.54372/pc.2022.v17.3149Keywords:
Etanol. Preços de Exportação. Pass-Through.Abstract
The objective of this work consisted of the examination of the relation between the exchange rate variations and the Brazilian export prices of ethanol, relation defined as the pass-through of the exchange rate, having as reference the period from March 2005 to February 2019. For this, we estimated two models: in dollar and in euro. The data were collected in the sites of Center for Advanced Studies in Applied Economics – CEPEA, Instituted for Applied Economics – IPEA and in Agriculture and Horticulture Development Board – AHDB. In this sense, we used the instrumentals of time series, especially the Vector Error Correction Model (VEC). The results found provided indications that the degree of pass-through of the exchange rate for the export prices of ethanol occurred in an incomplete way, with the coefficients for dollar and euro of, respectively, 0.36 and 0.64, representing that depreciations of the exchange rate do not translate themselves in significant gains of competitiveness, since that they do not reduce expressively the export prices.
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