Using Australian quarterly data from the post-float period 1984:1-2003:1 and a partial system, we identify and estimate two cointegrating relations, one for the interest-rate differential and the other for the nominal exchange rate. Our estimate of the long-run elasticity of the exchange rate...

This article sets out the analytical framework of the 'new' approach to the balance of payments under the conditions of 'international financial laissez faire' characterised by financial deregulation, floating exchange rates, and high international capital mobility. It is argued that much of the...

Conventional growth curves, such as the logistic and Gompertz, though both useful and successful as descriptive measures, lack economic substance. Where a new product is developed expressly to compete with an existing close substitute, any economist might reasonably expect the relative prices of...

The United States occupies a rather unique position in the world wool trade - besides being one of the world's largest apparel wool producers, she also needs to supplement her requirements by sizeable imports from wool surplus countries. However, wool imports into the U.S. have a strong...