The study looked at what would have happened if Brazil had not changed its currency system in 1999. They used a model to see how the economy would have been different if Brazil had kept its fixed currency rate or devalued it faster. The results showed that keeping the fixed rate would have been bad, with high interest rates and a big drop in GDP. Devaluing the currency faster would have led to higher inflation and interest rates, but slightly lower GDP. The study suggests that changing the currency system when they did was the best choice.