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Purchasing power parity revisited: evidence from old and new tests for an OECD panel
[Zeitschriftenartikel]
Abstract The objective of this article is to study long-run purchasing power parity (PPP) for a panel of 21 OECD countries from the end of the Bretton Woods era by applying a wide range of the econometric techniques available. This will allow us to present a comprehensive up to date examination of the empiri... mehr
The objective of this article is to study long-run purchasing power parity (PPP) for a panel of 21 OECD countries from the end of the Bretton Woods era by applying a wide range of the econometric techniques available. This will allow us to present a comprehensive up to date examination of the empirical validity of PPP, covering the weak and strong versions of the hypothesis with individual and panel analysis, including the absence or presence of cross-dependency, the linear or non-linear behaviour of the real exchange rates, and the degree of persistence. Overall, the results provide evidence in favour of PPP.... weniger
Thesaurusschlagwörter
OECD
Klassifikation
Wirtschaftsstatistik, Ökonometrie, Wirtschaftsinformatik
Volkswirtschaftslehre
Freie Schlagwörter
purchasing power parity; exchange rates; C23; F31; G15
Sprache Dokument
Englisch
Publikationsjahr
2010
Seitenangabe
S. 2243-2260
Zeitschriftentitel
Applied Economics, 42 (2010) 17
DOI
https://doi.org/10.1080/00036840701765486
Status
Postprint; begutachtet (peer reviewed)
Lizenz
PEER Licence Agreement (applicable only to documents from PEER project)