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Effects of Exchange Rates on World Prices of Australian Wool

Author

Listed:
  • Islam, Nazrul
  • Tcha, MoonJoong
  • Stanton, John

Abstract

Australian wool producers are being told that exchange rate have driven systematic fluctuation in the price of their wool at auction. This paper presents some key findings of a major collaborative study on the effect of exchange rates on Australian wool prices with the Economic Research Centre at the University of Western Australia. The effect of the exporter and importer’s market powers on the extent of price changes due to exchange rates, was analysed using Australian Bureau of Statistics wool trade data. The results reflect the extent to which Australian wool exporters or importers of destination countries have “market power” that can be used to their advantage in the form of increasing prices.

Suggested Citation

  • Islam, Nazrul & Tcha, MoonJoong & Stanton, John, 2006. "Effects of Exchange Rates on World Prices of Australian Wool," 2006 Conference (50th), February 8-10, 2006, Sydney, Australia 139792, Australian Agricultural and Resource Economics Society.
  • Handle: RePEc:ags:aare06:139792
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    File URL: http://ageconsearch.umn.edu/record/139792/files/2006_islam.pdf
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    References listed on IDEAS

    as
    1. Gross, Dominique M. & Schmitt, Nicolas, 2000. "Exchange rate pass-through and dynamic oligopoly: an empirical investigation," Journal of International Economics, Elsevier, vol. 52(1), pages 89-112, October.
    2. Knetter, Michael M, 1989. "Price Discrimination by U.S. and German Exporters," American Economic Review, American Economic Association, vol. 79(1), pages 198-210, March.
    3. Gagnon, Joseph E. & Knetter, Michael M., 1995. "Markup adjustment and exchange rate fluctuations: evidence from panel data on automobile exports," Journal of International Money and Finance, Elsevier, vol. 14(2), pages 289-310, April.
    4. Marston, Richard C., 1990. "Pricing to market in Japanese manufacturing," Journal of International Economics, Elsevier, vol. 29(3-4), pages 217-236, November.
    5. Tivig, Thusnelda, 1996. "Exchange rate pass-through in two-period duopoly," International Journal of Industrial Organization, Elsevier, vol. 14(5), pages 631-645, July.
    6. Webber, Anthony G., 2000. "Newton's gravity law and import prices in the Asia Pacific," Japan and the World Economy, Elsevier, vol. 12(1), pages 71-87, January.
    Full references (including those not matched with items on IDEAS)

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