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| Author: | Varamini, H. Lisachuk, H. |
| Title: | The application of purchasing-power parity to Ukraine by using the cointegration approach |
| Journal: | Russian and East European Finance and Trade
1998 : MAY-JUN, VOL. 34:3, p. 60-69 |
| Index terms: | TRADE FINANCE UKRAINE |
| Language: | eng |
| Abstract: | The theory of purchasing-power parity (PPP) explains the relationship between the price levels of any pairs of countries and the exchange rates between their currencies. The PPP doctrine implies that, in the absence of government control and trade barriers, we should be able to purchase a given basket of goods in any country for the same amount of currency. The absolute version of the PPP theory suggests that the spot exchange rate between the two currencies must be equal to the ratio of price levels in the two countries. |
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