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Exchange rates and commodity prices: the case of Australian metal exports

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  • Robyn Swift

Abstract

Exporters of homogeneous commodities are usually regarded as 'price takers' who operate in perfectly competitive international markets, so that the pass-through of exchange rate changes to foreign-currency prices must be zero. However, many Australian commodities are subject to influences that may produce more complex pricing strategies, for example, markets in which Australia is a dominant exporter, or where there are few buyers and sellers due to the presence of large multi-national corporations. This study uses multivariate cointegration techniques to examine the pricing of Australian metal exports, with particular emphasis on the degree and timing of the pass-through of exchange rate and other changes.

Suggested Citation

  • Robyn Swift, 2001. "Exchange rates and commodity prices: the case of Australian metal exports," Applied Economics, Taylor & Francis Journals, vol. 33(6), pages 745-753.
  • Handle: RePEc:taf:applec:v:33:y:2001:i:6:p:745-753
    DOI: 10.1080/00036840122525
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    References listed on IDEAS

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    1. Michael M. Knetter, 1992. "Exchange Rates and Corporate Pricing Strategies," NBER Working Papers 4151, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Landon, Stuart & Smith, Constance E., 2006. "Exchange rates and investment good prices: A cross-industry comparison," Journal of International Money and Finance, Elsevier, vol. 25(2), pages 237-256, March.

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