Revisiting long-run purchasing power parity with asymmetric adjustment for G-7 countries

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Please use this identifier to cite or link to this item: http://hdl.handle.net/11455/69566

標題:	Revisiting long-run purchasing power parity with asymmetric adjustment for G-7 countries
作者:	Chang, T.Y. Lee, C.H. Chou, P.I. Tang, D.P.
關鍵字:	Threshold cointegration test;Purchasing power parity;Asymmetric;adjustment;G-7 countries;Policy implications;threshold cointegration;nonlinear adjustment;exchange-rates;unit-root;stationarity;model
Project:	Japan and the World Economy
期刊/報告no：:	Japan and the World Economy, Volume 23, Issue 4, Page(s) 259-264.
摘要:	In this study, we applied a threshold cointegration test advanced by Enders and Siklos (2001) to investigate the properties of asymmetric adjustment on long-run purchasing power parity (PPP) in G-7 countries between January 1994 and April 2010. Although there was strong evidence of long-run PPP for these G-7 countries, with the exception of Canada, the adjustment mechanism was asymmetric. These results have important policy implications for G-7 countries. (C) 2011 Elsevier B.V. All rights reserved.
URI:	http://hdl.handle.net/11455/69566
ISSN:	0922-1425
DOI:	10.1016/j.japwor.2011.09.001
Appears in Collections:	期刊論文

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