IDEAS home Printed from https://ideas.repec.org/p/syd/wpaper/2123-7556.html
   My bibliography  Save this paper

Excess Demand And Expectations Influences On Price Changes In Australian Manufacturing Industry

Author

Listed:
  • Hall, V.B.

Abstract

Data from the quarterly ‘Survey of Industrial Trends in Australia’ have been used to evaluate whether various excess demad and expectations influences have significantly effected reported price changes in Australian manufacturing industry. For the manufacturing sector, as a whole. both expected and unexpected changes in average unit costs have been important, but no explicit excess demand influence has been additionally significant at the I per cent level. For a majority of the indrutry categories tested, however, certain excess dgmand variables (involving. for example, finished goods inventories, unfilled orders. and industry operating rates) and various cost and inventory expectations variables have been significant.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Hall, V.B., 1978. "Excess Demand And Expectations Influences On Price Changes In Australian Manufacturing Industry," Working Papers 24, University of Sydney, School of Economics.
    • Handle: RePEc:syd:wpaper:2123/7556
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/2123/7556
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. F. Rushdy & P. J. Lund, 1967. "The Effect of Demand on Prices in British Manufacturing Industry," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 34(4), pages 361-373.
    2. John A. Carlson, 1977. "A Study of Price Forecasts," NBER Chapters, in: Annals of Economic and Social Measurement, Volume 6, number 1, pages 27-56, National Bureau of Economic Research, Inc.
    3. Robert J. Gordon, 1975. "The Impact of Aggregate Demand on Prices," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 6(3), pages 613-670.
    4. Pagan, Adrian, 1974. "A Generalised Approach to the Treatment of Autocorrelation," Australian Economic Papers, Wiley Blackwell, vol. 13(23), pages 267-280, December.
    5. repec:bla:ecorec:v:52:y:1976:i:137:p:53-68 is not listed on IDEAS
    6. Keith Hancock, 1976. "The Relation Between Changes in Costs and Changes in Product Prices in Australian Manufacturing Industries 1949–50 to 1967–68," The Economic Record, The Economic Society of Australia, vol. 52(1), pages 53-68, March.
    7. repec:bla:econom:v:42:y:1975:i:166:p:123-38 is not listed on IDEAS
    8. Danes, Michael, 1975. "The Measurement and Explanation of Inflationary Expectations in Australia," Australian Economic Papers, Wiley Blackwell, vol. 14(24), pages 75-87, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Harry Bloch & Michael Olive, 1999. "Cyclical and Competitive Influences on Pricing in Australian Manufacturing," The Economic Record, The Economic Society of Australia, vol. 75(3), pages 268-279, September.
    2. David Shepherd & Ciaran Driver, 2003. "Inflation and Capacity Constraints in Australian Manufacturing Industry," The Economic Record, The Economic Society of Australia, vol. 79(245), pages 182-195, June.
    3. Freebairn, John W., 1984. "Farm and Retail Food Prices," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 52(02), pages 1-20, August.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. L. V. Defris & R. A. Williams, 1979. "The Formation of Consumer Inflationary Expectations in Australia," The Economic Record, The Economic Society of Australia, vol. 55(2), pages 136-148, June.
    2. Mario Tello, 1992. "Precios relativos, producción interna y exportaciones en modelos de competencia imperfecta doméstica y mercados segmentados," Documentos de Trabajo / Working Papers 1992-107, Departamento de Economía - Pontificia Universidad Católica del Perú.
    3. Michael G. Kirby, 1981. "An Investigation of the Specification and Stability of the Australian Aggregate Wage Equation," The Economic Record, The Economic Society of Australia, vol. 57(1), pages 35-46, March.
    4. T. J. Valentine, 1977. "Price Expectations in Australia: An Alternative Analysis," The Economic Record, The Economic Society of Australia, vol. 53(3), pages 390-404, September.
    5. Peter Saunders, 1981. "The Formation of Producers' Price Expectations in Australia," The Economic Record, The Economic Society of Australia, vol. 57(4), pages 368-378, December.
    6. Robert J. Gordon, 1979. "New Evidence that Fully Anticipated Monetary Changes Influence Real Output After All," Discussion Papers 369, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    7. V. B. Hall & Peter Saunders, 1984. "Further Evidence from Survey Data on Australian Manufacturing Price Changes," The Economic Record, The Economic Society of Australia, vol. 60(1), pages 68-84, March.
    8. Davis, George & Kanago, Bryce, 1998. "High and Uncertain Inflation: Results from a New Data Set," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 30(2), pages 218-230, May.
    9. Wändi Bruine de Bruin & Michael F. Bryan & Simon M. Potter & Giorgio Topa & Wilbert Van der Klaauw, 2008. "Rethinking the measurement of household inflation expectations: preliminary findings," Staff Reports 359, Federal Reserve Bank of New York.
    10. Aurélien Goutsmedt, 2021. "From the Stagflation to the Great Inflation: Explaining the US economy of the 1970s," Revue d'économie politique, Dalloz, vol. 131(3), pages 557-582.
    11. Lawrence H. Summers, 1981. "Inflation and the Valuation of Corporate Equities," NBER Working Papers 0824, National Bureau of Economic Research, Inc.
    12. Thomas M. FULLERTON & Miguel MARTINEZ & Wm. Doyle SMITH & Adam WALKE, 2015. "Inflationary Dynamics in Guatemala," Journal of Economics and Political Economy, KSP Journals, vol. 2(4), pages 436-444, December.
    13. Nora Abu Asab & Juan Carlos Cuestas & Alberto Montagnoli, 2018. "Inflation targeting or exchange rate targeting: Which framework supports the goal of price stability in emerging market economies?," PLOS ONE, Public Library of Science, vol. 13(8), pages 1-21, August.
    14. I. J. Macfarlane & J. R. Hawkins, 1983. "Economic Forecasts and Their Assessment," The Economic Record, The Economic Society of Australia, vol. 59(4), pages 321-331, December.
    15. Ball, Laurence & Carvalho, Carlos & Evans, Christopher & Antonio Ricci, Luca, 2024. "Weighted Median Inflation Around the World: A Measure of Core Inflation," Journal of International Money and Finance, Elsevier, vol. 142(C).
    16. Ang, Andrew & Bekaert, Geert & Wei, Min, 2007. "Do macro variables, asset markets, or surveys forecast inflation better?," Journal of Monetary Economics, Elsevier, vol. 54(4), pages 1163-1212, May.
    17. Aurélien Goutsmedt & Goulven Rubin, 2018. "Robert J. Gordon and the introduction of the natural rate hypothesis in the Keynesian framework," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01821825, HAL.
    18. Sterman, John., 1986. "Expectation formation in behavioral simulation models," Working papers 1826-86., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    19. George Babich & John Goodhew, 1978. "Short Term Econometric Forecasting and Seasonal Adjustment," The Economic Record, The Economic Society of Australia, vol. 54(2), pages 229-236, August.
    20. Dean Croushore, 2010. "Philadelphia Fed forecasting surveys: their value for research," Business Review, Federal Reserve Bank of Philadelphia, issue Q3, pages 1-11.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:syd:wpaper:2123/7556. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Vanessa Holcombe (email available below). General contact details of provider: https://edirc.repec.org/data/deusyau.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.