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| Hatzinikolaou, Dimitris; Polasek, Metodey. |
| Using Australian quarterly data from the post-float period 1984:1-2003:1 and a partial system, we identify and estimate two cointegrating relations, one for the interest-rate differential and the other for the nominal exchange rate. Our estimate of the long-run elasticity of the exchange rate with respect to commodity prices is 0.939, which strongly supports the widely held view that the floating Australian dollar is a ‘commodity currency’. We also find that the PPP and UIP cannot be rejected so long as commodity prices are included in the cointegrating relations. Our model outperforms the random walk model in forecasting the exchange rate in the medium run. |
| Tipo: Journal Article |
Palavras-chave: Australian dollar; Commodity currency; Cointegration; F31; F41. |
| Ano: 2005 |
URL: http://purl.umn.edu/37462 |
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| Powell, Alan A.; Polasek, Metodey; Burley, Harry T.. |
| Conventional growth curves, such as the logistic and Gompertz, though both useful and successful as descriptive measures, lack economic substance. Where a new product is developed expressly to compete with an existing close substitute, any economist might reasonably expect the relative prices of the two goods to be relevant to the rate at which the innovation is adopted. Yet growth curves of the class mentioned above are functions of time only. In this paper we attempt to allow for the influence of price. The logistic law of growth remains basic to the pattern of adoption in our model. However, it is assumed that relative prices can both accelerate the rate of adoption, and affect the long-run share of the market enjoyed by the new product. (We shall use... |
| Tipo: Journal Article |
Palavras-chave: Research and Development/Tech Change/Emerging Technologies. |
| Ano: 1963 |
URL: http://purl.umn.edu/22950 |
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| Polasek, Metodey. |
| The United States occupies a rather unique position in the world wool trade - besides being one of the world's largest apparel wool producers, she also needs to supplement her requirements by sizeable imports from wool surplus countries. However, wool imports into the U.S. have a strong competitive advantage over domestic wools, not only price-wise but also on account of their uniformity and generally better preparation. For this reason the ability of the wool exporting countries to enlarge very substantially their markets in the U.S. by displacing some domestic wools is largely dependent on the American policy of sheltering and fostering the domestic wool industry. For decades, the traditional means of achieving this has been by levying specific tariff... |
| Tipo: Journal Article |
Palavras-chave: Agricultural and Food Policy. |
| Ano: 1962 |
URL: http://purl.umn.edu/22460 |
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