The long-run and short-run effects of exchange-rate volatility on exports: The case of Australia and New Zealand |
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| Authors: | A. C. Arize J. Malindretos |
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| Affiliation: | 1. College of Business and Technology, Texas A&M University-Commerce, 75429, Commerce, TX
2. Department of Economics and Finance, College of Business Administration, St. John’ University, 11439, NY
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| Abstract: | In this paper we obtain and interpret estimates of the short- and long-run influence of exchange-rate volatility (or risk) on the volume of trade of two Pacific-Basin Countries, Australia and New Zealand, in the generalized floating exchange-rate period. For each country, a unique, theoretically consistent long-run function is estimated, as well as a short-run dynamic demand function that is formally superior to a number of previous estimates. |
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