Nonlinear adjustment to purchasing power parity in G-7 countries

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Please use this identifier to cite or link to this item: http://hdl.handle.net/11455/67991

標題:	Nonlinear adjustment to purchasing power parity in G-7 countries
作者:	Chang, T.Y. Lee, C.H. Chou, P.I.
關鍵字:	nonlinear unit root test;purchasing power parity;G-7 countries;real exchange-rates;unit-root;mean-reversion;time-series;2;centuries;hypothesis;economics
Project:	Applied Economics Letters
期刊/報告no：:	Applied Economics Letters, Volume 19, Issue 2, Page(s) 123-128.
摘要:	This study applies a simple and powerful nonlinear unit root proposed by Sollis (2009) to test the validity of long-run Purchasing Power Parity (PPP) in G-7 countries over the period January 1980 to September 2008. The empirical results indicate that PPP holds true for all G-7 countries, with the exception of Canada, and the adjustment towards PPP is nonlinear but in a symmetric way. These results have important policy implications for the G-7 countries under study.
URI:	http://hdl.handle.net/11455/67991
ISSN:	1350-4851
DOI:	10.1080/13504851.2011.568389
Appears in Collections:	期刊論文

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