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dc.contributor.authorMakin, Tonyen_US
dc.contributor.editorMichael Plummeren_US
dc.date.accessioned2018-04-03T12:30:43Z
dc.date.available2018-04-03T12:30:43Z
dc.date.issued2013en_US
dc.date.modified2014-09-17T22:29:56Z
dc.identifier.issn10490078en_US
dc.identifier.doi10.1016/j.asieco.2012.10.001en_US
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.en_US
dc.description.peerreviewedYesen_US
dc.description.publicationstatusYesen_US
dc.format.extent502692 bytes
dc.format.mimetypeapplication/pdf
dc.languageEnglishen_US
dc.language.isoen_US
dc.publisherElsevieren_US
dc.publisher.placeNetherlandsen_US
dc.relation.ispartofstudentpublicationNen_US
dc.relation.ispartofpagefrom80en_US
dc.relation.ispartofpageto88en_US
dc.relation.ispartofissueFebruaryen_US
dc.relation.ispartofjournalJournal of Asian Economicsen_US
dc.relation.ispartofvolume24en_US
dc.rights.retentionYen_US
dc.subject.fieldofresearchMacroeconomic Theoryen_US
dc.subject.fieldofresearchcode140102en_US
dc.titleCommodity Prices and the Macroeconomy: An Extended Dependent Economy Approachen_US
dc.typeJournal articleen_US
dc.type.descriptionC1 - Peer Reviewed (HERDC)en_US
dc.type.codeC - Journal Articlesen_US
gro.facultyGriffith Business School, Department of Accounting, Finance and Economicsen_US
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.en_US
gro.date.issued2013
gro.hasfulltextFull Text


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