The degree and determinants of exchange rate pass-through: market structure, non-tariff barriers and multinational corporations

Article Abstract:

Exchange rate pass-through (PT) variations are estimated by evaluating their relationship with PT determinants. These are foreign control, non-tariff barriers, market structure and product characteristics. Data on Australia's manufactured imports suggests that most determinants have negative relationship with PT while the interchangeability between imports and local products have positive relationship with PT. Pricing policies of multinational corporations and non-tariff barriers are found to have significant effects on PT variations.

Economic aspects, International business enterprises, Multinational corporations, Nontariff trade barriers

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Fiscal policies and the choice of exchange rate regime

Article Abstract:

A study was conducted to evaluate different exchange rate regimes. The stduy focuses on a budgetary perspective and considers monetary unions, free floats and an EMS-like (European Monetary System) adjustable peg. Results show that an adjustable peg model describes exchange rate collapses which are consistent with optimal policies. In addition, rate switches present conditions which allow the policymaker to default committed fixed exchange rates.

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Fiscal policy coordination with demand spillovers and unionised labour markets

Article Abstract:

Coordinated fiscal policies on optimal government expenditures between governments in monetary union leads to higher fiscal expenditures that, in turn, results in positive demand and welfare spillovers. Such expansion is conjectured to be needed by an economy especially when it suffers from recession and high unemployment. Increases in union bargaining power and firm market power also reduce optimal government expenditure in both countries.

Public Finance Activities, Fiscal Policy, Analysis, Economic research

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