Exchange-rate economics for the resources sector |
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Authors: | Kenneth Clements Yihui Lan John Roberts |
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Affiliation: | aThe University of Western Australia, UWA Business School, Australia |
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Abstract: | The paper provides an account of aspects of exchange-rate economics that are of particular relevance to the resources sector. The issues discussed include exchange-rate volatility and the risk management practices used to deal with it, the role of productivity differences across countries, and the impact of a booming resources sector on the country's exchange rate. The discussion is organized around a simple stylized model that emphasizes the quantity theory of money and purchasing power parity as a long-run link between prices and exchange rates. |
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Keywords: | Exchange rates Resource economics |
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