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The pass-through of exchange rate changes to the prices of Australian exports of dairy and livestock products

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  • Swift, Robyn
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    Abstract

    Agricultural exports are usually assumed to operate in perfectly competitive international markets, but many are subject to non‐tariff barriers to trade that can affect the degree of pass‐through of exchange rate changes to foreign currency prices. The present study uses multivariate cointegration techniques to examine the effects of exchange rate changes on the prices of Australian exports of milk products, cheese, beef, sheepmeat, and hides and skins. The results indicate that Australian dairy exports operate in competitive markets in which pass‐through is complete, but there is no stable long‐run relationship between exchange rates and prices for any of the other livestock products.

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    File URL: http://purl.umn.edu/117865
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    Bibliographic Info

    Article provided by Australian Agricultural and Resource Economics Society in its journal Australian Journal of Agricultural and Resource Economics.

    Volume (Year): 48 (2004)
    Issue (Month): 1 (March)
    Pages:

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    Handle: RePEc:ags:aareaj:117865

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    Related research

    Keywords: International Relations/Trade; Livestock Production/Industries;

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    1. Irving Kravis & Robert E. Lipsey, 1974. "International Trade Prices and Price Proxies," NBER Chapters, in: The Role Of The Computer In Economic And Social Research in Latin America, pages 253-268 National Bureau of Economic Research, Inc.
    2. Menon, Jayant, 1995. " Exchange Rate Pass-Through," Journal of Economic Surveys, Wiley Blackwell, vol. 9(2), pages 197-231, June.
    3. Robert E. Lipsey & Linda Molinari & Irving B. Kravis, 1990. "Measures of Prices and Price Competitiveness in International Trade in Manufactured Goods," NBER Working Papers 3442, National Bureau of Economic Research, Inc.
    4. Yumkella, Kandeh K. & Unnevehr, Laurian J. & Garcia, Philip, 1994. "Noncompetitive Pricing And Exchange Rate Pass-Through In Selected U.S. And Thai Rice Markets," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 26(02), December.
    5. Johansen, Soren, 1995. "Likelihood-Based Inference in Cointegrated Vector Autoregressive Models," OUP Catalogue, Oxford University Press, number 9780198774501.
    6. Coyle, W. T. & Hayes, Dermot J. & Yamauchi, H., 1992. "Agriculture and Trade in the Pacific: Toward the Twenty-First Century," Staff General Research Papers 449, Iowa State University, Department of Economics.
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    Cited by:
    1. Cortes, Maria, 2007. "Examining Patterns of Bilateral Trade between Australia and Colombia by Using Cointegration Analysis and Error-Correction Models," Economics Working Papers wp07-20, School of Economics, University of Wollongong, NSW, Australia.
    2. Fedoseeva, Svetlana, 2013. "Do German exporters PTM? Searching for right answers in sugar confectionery exports," Discussion Papers 62, Justus Liebig University Giessen, Center for international Development and Environmental Research (ZEU).

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