Show simple item record

dc.contributor.authorMakin, AJ
dc.contributor.editorMichael Plummer
dc.date.accessioned2018-04-03T12:30:43Z
dc.date.available2018-04-03T12:30:43Z
dc.date.issued2013
dc.date.modified2014-09-17T22:29:56Z
dc.identifier.issn1049-0078
dc.identifier.doi10.1016/j.asieco.2012.10.001
dc.identifier.urihttp://hdl.handle.net/10072/54399
dc.description.abstractThis paper proposes a straightforward model for analysing the impact of export commodity price fluctuations on small open macroeconomies with particular reference to Australia and New Zealand, major commodity exporters in the Asian region. It extends the dependent economy approach, first by re-specifying goods and services production as either exportable, importable or non-tradable, and second by adding a monetary sector to highlight key linkages between commodity prices, the exchange rate, price level, national output and trade account. The framework sheds new light on the phenomenon of 'commodity currencies', how exchange rate movements shield national output from terms of trade shocks, the importance of economic openness in this process, and the significance for monetary and exchange rate policy of short term, versus sustained, commodity price movements.
dc.description.peerreviewedYes
dc.description.publicationstatusYes
dc.format.extent502692 bytes
dc.format.mimetypeapplication/pdf
dc.languageEnglish
dc.language.isoen_US
dc.publisherElsevier
dc.publisher.placeNetherlands
dc.relation.ispartofstudentpublicationN
dc.relation.ispartofpagefrom80
dc.relation.ispartofpageto88
dc.relation.ispartofissueFebruary
dc.relation.ispartofjournalJournal of Asian Economics
dc.relation.ispartofvolume24
dc.rights.retentionY
dc.subject.fieldofresearchMacroeconomic Theory
dc.subject.fieldofresearchOther Economics
dc.subject.fieldofresearchApplied Economics
dc.subject.fieldofresearchEconometrics
dc.subject.fieldofresearchcode140102
dc.subject.fieldofresearchcode1499
dc.subject.fieldofresearchcode1402
dc.subject.fieldofresearchcode1403
dc.titleCommodity Prices and the Macroeconomy: An Extended Dependent Economy Approach
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.facultyGriffith Business School, Department of Accounting, Finance and Economics
gro.rights.copyright© 2013 Elsevier Inc. This is the author-manuscript version of this paper. Reproduced in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.
gro.date.issued2013
gro.hasfulltextFull Text
gro.griffith.authorMakin, Tony J.


Files in this item

This item appears in the following Collection(s)

  • Journal articles
    Contains articles published by Griffith authors in scholarly journals.

Show simple item record