Torres, Francisco SilvaTeles, Pedro Pinho de2024-12-172024-12-171986-05-010870-3531http://hdl.handle.net/10400.14/47562This note is an extension of Macedo’s two-country static equilibrium model (1985) on international coordination of economic policies under flexible exchange rates. We test the influence of uncertainty on the (in) deflationary bias that characterizes the non-cooperative Nash-Cournot equilibrium. The gap between this solution and the cooperative one is shortened. Both countries cooperate tacitly against «nature» minimizing the involved risk.porO desvio deflacionista na ausência de cooperação internacional em contexto de incertezajournal article10.34632/economia.1986.17392