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| Frost, Mark; Parton, Kevin A.. |
| The Australian dollar is considered a commodity-based currency, with the high level of primary commodity exports in Australia’s trade balance given as an explanation. Key studies have concluded that Australia’s terms of trade are a primary driver of the real exchange rate based on a comparative advantage trade model. These studies have been undertaken at an aggregate level where changes in the terms of trade have been assumed as a given. Since the Australian economy was deregulated in the early 1980s, there have been dramatic changes in the structure of the economy. Australia’s trading activity has grown and now contributes more within the domestic economy. Similarly the structure and contribution of key imports and exports has also evolved. Furthermore... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Demand and Price Analysis; International Relations/Trade. |
| Ano: 2010 |
URL: http://purl.umn.edu/59735 |
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| Frost, Mark; Parton, Kevin A.. |
| The Australian dollar is considered primarily a commodity-based currency. The high level of commodity-based exports in Australia’s trade balance is given as an explanation. Accordingly changes in world commodity prices should bring commensurate changes in the value of the Australian dollar, such that changes in world commodity prices are only partially transmitted to the Australian economy and local farm-gate prices. If this relationship holds, then local farm-gate prices should be significantly less volatile than their respective world price. Variances in local prices would be due to local factors (e.g. variances in local production) rather than variances in the world price and international factors. This paper examines the farm-gate prices of Australia’s... |
| Tipo: Article |
Palavras-chave: Farm economics; Farm business management; Agricultural risk management; Commodity prices; Farm Management. |
| Ano: 2005 |
URL: http://purl.umn.edu/123139 |
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