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The Volatility of Australia's Exchange Rate: A Synthesis

Author

Listed:
  • Dwyer, Louise

    (Griffith University)

  • Nguyen, Duc-Tho

    (Griffith University)

  • Rajapakse, Suri

    (Griffith University)

Abstract

In this paper, a number of methods which have been used previously to assess exchange rate volatility are synthesized within a common framework. These notions of volatility are identified, namely changeableness, dispersion, and uncertainty. It is argued that the uncertainty aspect should be the primary focus, and that in some circumstances the other two aspects can be seen as special cases of the uncertainty interpretation. Applying the preferred measures to the data, we find that Australia's exchange rates became more volatile after the 1983 float, and that after declining in the early-1990s, exchange rate volatility again increased in 1992 and 1993.

Suggested Citation

  • Dwyer, Louise & Nguyen, Duc-Tho & Rajapakse, Suri, 1996. "The Volatility of Australia's Exchange Rate: A Synthesis," Economic Analysis and Policy, Elsevier, vol. 26(1), pages 25-44, March.
    • Handle: RePEc:eee:ecanpo:v:26:y:1996:i:1:p:25-44
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    Keywords

    Exchange Rates;

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange

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