Further Evidence from Survey Data on Australian Manufacturing Price Changes

The Economic Record, Vol.60, pp. 68-83, March 1984

Posted: 15 Jan 2010

See all articles by Peter Saunders

Peter Saunders

University of New South Wales (UNSW) - Social Policy Research Centre (SPRC)

Viv Hall

Victoria University of Wellington - Te Herenga Waka - School of Economics & Finance

Date Written: March 1984

Abstract

Three data sets from two different quarterly surveys have been used in estimating six standard models of price change behaviour. Results for Total Manufacturing Industry, for all three data sets, show prices respond to both actual cost movements and commodity market excess demand conditions. For most ASIC two-digit industries, prices respond rapidly to actual cost movements, and for many industries they also respond directly to excess demand conditions. No single excess demand measure is appropriate for all industries. The magnitude of orders and inventories influences is very small, but capacity utilization contributions seem far from trivial. Industry results are frequently sensitive to the survey used and/or to the method used to weight individual firm's responses.

Keywords: Manufacturing Sector, Prices, Price behaviour, Costs, Commodity markets, Demand

JEL Classification: C83, E31

Suggested Citation

Saunders, Peter and Hall, Viv, Further Evidence from Survey Data on Australian Manufacturing Price Changes (March 1984). The Economic Record, Vol.60, pp. 68-83, March 1984, Available at SSRN: https://ssrn.com/abstract=1536216

Peter Saunders

University of New South Wales (UNSW) - Social Policy Research Centre (SPRC) ( email )

Sydney, NSW 2052
Australia
612 9385 7810 (Phone)
61 2 9385 1049 ext. 1049 (Fax)

Viv Hall (Contact Author)

Victoria University of Wellington - Te Herenga Waka - School of Economics & Finance ( email )

P.O. Box 600
Wellington, 6140
New Zealand

HOME PAGE: http://www.vuw.ac.nz/sef/pages/staff/VivHall

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