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標題: Purchasing power parity for East-Asia countries: further evidence based on panel stationary test with multiple structural breaks
作者: Chang, T.Y.
Li, D.
Lu, Y.C.
Lee, C.H.
關鍵字: real exchange-rates;unit-root tests;mean reversion;recent float;heteroskedasticity;hypothesis
Project: Applied Economics
期刊/報告no:: Applied Economics, Volume 43, Issue 24, Page(s) 3289-3298.
In this article, we re-investigate the validity of Purchasing Power Parity (PPP) for a sample of 10 East-Asia countries over the period of January 1987 to June 2005, using a recently developed econometric technique of the panel stationary test with multiple structural breaks, proposed by Carrion-i-Silvestre et al. (2005). This test considers multiple structural breaks positioned at different unknown dates and a different number of breaks for each individual. Empirical evidence shows that the PPP holds true for half of 10 East-Asia countries during the research period. Our results have important policy implications for these 10 East-Asia countries under study.
ISSN: 0003-6846
DOI: 10.1080/00036840903508403
Appears in Collections:期刊論文

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