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RBA Glossary definition for SOEs

SOEs – state owned enterprises

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Trade Invoicing Currency and First-stage Exchange Rate Pass-through

27 Jun 2016 RDP 2016-05
Christian Gillitzer and Angus Moore
Our results have several important implications. First, Australian dollar invoicing dampens the response of importers’ costs to exchange rate changes and so may make consumer price inflation less responsive to exchange ... rate changes, increasingly so
https://www.rba.gov.au/publications/rdp/2016/2016-05.html

Trade Invoicing Currency and First-stage Exchange Rate Pass-through

1 Jun 2016 RDP 2016-05
Christian Gillitzer and Angus Moore
Doing so minimises pass-through for the duration over which prices are fixed. ... We rescale the weights for foreign currencies so that they sum to 100.
https://www.rba.gov.au/publications/rdp/2016/2016-05/full.html

Introduction

1 Jul 2016 RDP 2016-05
Christian Gillitzer and Angus Moore
Critically, firms with low desired long-run pass-through are likely to also have low desired short-run pass-through, and so choose to invoice in local currency. ... Similarly, firms with high desired long-run pass-through are likely to also prefer high
https://www.rba.gov.au/publications/rdp/2016/2016-05/introduction.html

Implications

1 Jul 2016 RDP 2016-05
Christian Gillitzer and Angus Moore
Local currency (Australian dollar) pricing of imports dampens the response of importers' costs to exchange rate changes, and so is likely to weaken the relationship between exchange rate changes and consumer ... Standard models featuring price stickiness
https://www.rba.gov.au/publications/rdp/2016/2016-05/implications.html

Conclusion

1 Jul 2016 RDP 2016-05
Christian Gillitzer and Angus Moore
Doing so minimises pass-through for the duration over which prices are fixed.
https://www.rba.gov.au/publications/rdp/2016/2016-05/conclusion.html

Regression Analysis

1 Jul 2016 RDP 2016-05
Christian Gillitzer and Angus Moore
Doing so made no difference to our results. Using time fixed effects to control for aggregate-level variables instead of GDP growth is discussed in Appendix A.
https://www.rba.gov.au/publications/rdp/2016/2016-05/regression-analysis.html

An Invoice-share-weighted Exchange Rate Index

1 Jul 2016 RDP 2016-05
Christian Gillitzer and Angus Moore
Our motivation for doing so is that, if currency choice is a sufficient statistic for desired pass-through, invoice currency should be more relevant for modelling import prices than the currency ... Footnote. We rescale the weights for foreign currencies
https://www.rba.gov.au/publications/rdp/2016/2016-05/an-invoice-share-weighted-exchange-rate-index.html

Import Invoicing Currencies in Australia

1 Jul 2016 RDP 2016-05
Christian Gillitzer and Angus Moore
We do so using data from the ABS International Trade in Goods and Services (ITGS) data release and, prior to March 2003, the ABS International Merchandise Trade (IMT) data release. ... Data on invoice currencies are unavailable for services imports so we
https://www.rba.gov.au/publications/rdp/2016/2016-05/import-invoicing-currencies-in-australia.html