haku: @author Anker, P. / yhteensä: 2
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| Tekijä: | Anker, P. |
| Otsikko: | Pitfalls in panel tests of purchasing power parity |
| Lehti: | Weltwirtschaftliches Archiv
1999 : HEFT 3, VOL. 135:3, p. 437-453 |
| Asiasana: | Exchange rates Purchasing power parity Models |
| Kieli: | eng |
| Tiivistelmä: | The results of panel unit root tests applied to real exchange rates as a test of long-run purchasing power parity (PPP) diverge much. This paper provides evidence of this issue by analyzing large panels of real exchange rates vis-à-vis the German mark and the dollar. In particular, the impact of the base country and various aspects of the dynamic specifications are analyzed. Overall, the results provide strong evidence in favour of PPP as a long-run relationship. |
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