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Exchange Rate Pass-through: The Different Responses of Importers and Exporters
1 May 1993
RDP
9304
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1993/9304.html
The Data
1 May 1993
RDP
9304
Footnotes. Problems associated with the measurement of computer prices are discussed inPhillips (1988) constructed import price series adjusted for the shipping lag, but found that it did not greatly influence estimates ... Whilst New Zealand is not a
https://www.rba.gov.au/publications/rdp/1993/9304/data.html
Analysis of Results
1 May 1993
RDP
9304
However, it is well established that Australia has experienced exogenous shocks to the exchange rate. ... In fact, it takes almost two years for pass-through to be near complete.
https://www.rba.gov.au/publications/rdp/1993/9304/analysis-results.html
Appendix 3: Testing for Cointegration
1 May 1993
RDP
9304
Given the relative power of these tests, combined with the theoretical basis for the existence of a cointegrating relationship, it appears safe to reject non-cointegration for the export price equation. ... The power of a test is the probability of not
https://www.rba.gov.au/publications/rdp/1993/9304/appendix-3.html
Conclusion
1 May 1993
RDP
9304
It was shown that import prices over the docks respond fairly quickly to changes in the exchange rate. ... Furthermore, it was argued that these price effects are being absorbed to some extent at the second stage.
https://www.rba.gov.au/publications/rdp/1993/9304/conclusion.html
Appendix 2: Computer Prices
1 May 1993
RDP
9304
In short, when estimating prices, it is difficult to adjust for quality differences over time.
https://www.rba.gov.au/publications/rdp/1993/9304/appendix-2.html
Introduction
1 May 1993
RDP
9304
It is hypothesised that there has been a change in the pass-through relationship during the 1980s. ... Footnotes. Though it is generally accepted that, in the long run, inflation is a monetary phenomenon.
https://www.rba.gov.au/publications/rdp/1993/9304/introduction.html
Estimating the Pass-Through Relationship | RDP9304 Exchange Rate Pass-Through: The Different Responses of Importers and Exporters
1 May 1993
RDP
9304
It is not different from unity, however, at the 1 per cent level. ... It is then used to simulate import prices over the year to the December quarter 1992.
https://www.rba.gov.au/publications/rdp/1993/9304/estimating-pass-through-relationship.html
The Analytical Framework
1 May 1993
RDP
9304
When the issue of margins is introduced, it is apparent that exchange rate pass-through occurs in two stages. ... 1987). From this it follows that pass-through will be complete in the case of a small open economy.
https://www.rba.gov.au/publications/rdp/1993/9304/analytical-framework.html
Trends in Exchange Rates and Prices
1 May 1993
RDP
9304
From Figure 1 it is clear that the initial episode of currency depreciation in the early 1980s was accompanied by an increase in inflation.
https://www.rba.gov.au/publications/rdp/1993/9304/trends-exchange-rates-prices.html