The nature and implications of the J-curve, with particular reference to Australia

Wright, Robert Stanley. (1986). The nature and implications of the J-curve, with particular reference to Australia Honours Thesis, School of Economics, The University of Queensland.

       
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Author Wright, Robert Stanley.
Thesis Title The nature and implications of the J-curve, with particular reference to Australia
School, Centre or Institute School of Economics
Institution The University of Queensland
Publication date 1986
Thesis type Honours Thesis
Supervisor Assoc Prof A.L. Lougheed
Total pages 116
Language eng
Subjects 14 Economics
Formatted abstract       This thesis discusses the response of Australia’s Balance of Goods and Services to changes in the exchange rate. The Conventional wisdom would suggest that the Balance of goods and Services would show an immediate improvement following an exchange rate depreciation. However, the likely pattern of adjustment following a currency depreciation is that of the J-curve.

      The factors which underly the J-curve response are discussed and their applicability to Australia is assessed. A short empirical analysis of the response is undertaken. From this it is suggested that the response of Australia’s trade position may follow a lengthy J-curve response. Finally it is suggested that the J-curve response could be outweighed by other economic variables.

      Importantly, it is suggested that the Balance of Goods and Services must be brought into surplus, if our foreign debt is to be stabilised. The rising level of foreign indebtedness associated with the deteriorating trade position and exchange rate movements is cited as a major economic problem for the 1980’s.

 
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