English, Article, Journal or magazine article edition: TESTING FOR LONG-RUN PURCHASING POWER PARITY IN THE POST BRETTON WOODS ERA: EVIDENCE FROM OLD AND NEW TESTS Julián Ramajo Hernández(1); Montserrat Ferré Carracedo(2)

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Bookmark: http://trove.nla.gov.au/version/163326
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • TESTING FOR LONG-RUN PURCHASING POWER PARITY IN THE POST BRETTON WOODS ERA: EVIDENCE FROM OLD AND NEW TESTS
Author
  • Julián Ramajo Hernández(1)
  • Montserrat Ferré Carracedo(2)
Physical Description
  • preprint
Notes
  • . This article uses the most recent tests available to carry out a detailed empirical analysis of the validity of Purchasing Power Parity (PPP) for the exchange rates of 21 industrialized countries in the post-Bretton Woods period. It looks at the stationarity properties of the real exchange rates which are required for PPP to hold, and it also analyses the presence of cointegration between the nominal exchange rate and domestic and foreign prices. Overall, the results provide evidence in favor of PPP.
  • purchasing power parity, exchange rates, OECD, stationarity, cointegration, panel data.
  • RePEc:hpe:wpaper:y:2005:i:24
Language
  • English
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