2005, English, Article, Working paper edition: "Aggregation bias" does explain the PPP puzzle [electronic resource] / Jean Imbs ... [et al.].

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Bookmark: http://trove.nla.gov.au/version/23074992
Published
  • Cambridge, MA : National Bureau of Economic Research, c2005.
Language
  • English

Edition details

Title
  • "Aggregation bias" does explain the PPP puzzle /​ Jean Imbs ... [et al.].
Other Authors
  • Imbs, Jean.
  • National Bureau of Economic Research.
Published
  • Cambridge, MA : National Bureau of Economic Research, c2005.
Medium
  • [electronic resource]
Series
Subjects
Summary
  • "This article summarizes our views on the role of an "aggregation bias" in explaining the PPP Puzzle, in response to the several papers recently written in reaction to our initial contribution. We discuss in particular the criticisms of Imbs, Mumtaz, Ravn and Rey (2002) presented in Chen and Engel (2005). We show that their contentions are based on: (i) analytical counter-examples which are not empirically relevant; (ii) simulation results minimizing the extent of "aggregation bias"; (iii) unfounded claims on the impact of measurement errors on our results; and (iv) problematic implementation of small-sample bias corrections. We conclude, as in our original paper, that "aggregation bias" goes a long way towards explaining the PPP puzzle"--National Bureau of Economic Research web site.
Notes
  • Title from PDF file as viewed on 9/​15/​2005.
  • Includes bibliographical references.
  • Also available in print.
Technical Details
  • System requirements: Adobe Acrobat Reader
  • Mode of access: World Wide Web
Language
  • English
Libraries Australia ID
Contributed by
Libraries Australia

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