Demographic transition and the real exchange rate in Australia: An empirical investigation

This article utilizes the empirical findings that age structure of the population affects saving, investment and capital flow and hypothesizes that age structure influences the real exchange rate. Based on this link, an empirical model is specified for Australia and estimated with annual data for the period 1970–2011. An autoregressive distributed lag model of cointegration indicates that Australia's real exchange rate is cointegrated with its productivity differential and the relative share of young dependents (0–14 years) in the population. Long-run estimates show that young cohort has an appreciating influence on the real exchange rate. Also, the short-run adjustment is substantial, with more than 65% of the disequilibrium corrected in a year

Technische Rundschau : TR ; das Schweizer Industrie-Magazin

This paper examines mean reversion in the real exchange rate (RER) index of Australia in the presence of structural breaks from 1984 quarter 1 till 2011 quarter 1. Testing for mean reversion in RER is one way of testing the purchasing power parity (PPP) theory of international trade and finance. Mean reversion is examined by using a minimum Lagrange Multiplier unit-root test that allows for breaks in level and trend. We were able to reject the unit-root null hypothesis and find evidence of mean reversion and hence purchasing power parity (PPP). Our finding reverses the results of past studies that failed to prove convergence to PPP in the long-run. The corresponding structural break dates are 1988 quarter 2 and 2002 quarter 4 respectively and these breaks are statistically significant. The break dates mostly correspond to the period of RER instability (1986-1989) and the recovery of the Australian dollar driven by the resources boom (2001-2002)

A new method for assaying propantheline and its degradation product, xanthene-9- carboxylic acid using high performance liquid chromatography

A rapid, specific, and precise high-performance liquid chromatographic method is described for the simultaneous analysis of propantheline bromide and its hydrolysis product, xanthene-9-carboxylic acid. Reversed-phase chromatography was conducted using a mobile phase of 40:60, acetonitrile-0.05 M phosphate buffer (pH 2.5) delivered at 2 ml/min. Detection was at 254 nm. Methantheline bromide (internal standard), propantheline bromide, and xanthene-9-carboxylic acid gave retention times of 4.1, 5.4, and 8.3 min, respectively. Within-day, between-day, and total precision (CV) for assay of 15 mg/10 ml propantheline bromide are 1.2, 1.1, and 1.6%, respectively (n = 20). Similar precision was obtained for xanthene-9-carboxylic acid. The limit of detection was 2 ng. The assay is useful for routine quality assurance of propantheline in dosage forms and for stability and kinetic studies