Exchange Rates and Prices: The Case of Australian Manufactured Imports

Book Description
This book provides the first in-depth analysis of the relationship between exchange rates and the prices of internationally traded goods, using Australian imports of manufactures as a case study. The study is conducted in two stages: first, exchange rate pass-through elasticites are estimated by applying an econometric procedure which avoids the pit-falls in previous studies to a unique data set comprising 50 product categories; second, the determinants of pass-through are investigated within a model which accounts for market structure, product differentiation, non-tariff barriers and the pricing practices of multinational corporations. Separate chapters provide reviews of the theory and evidence on pass-through, and recent developments in time-series econometrics.


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