On the stationarity of Japanese-yen based purchasing power parity in the presence of the structural breaks

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Masafumi Kozuka;
(2010)
  • Journal: Economics Bulletin,volume 30,issue 1,pages1-9
  • Subject: real exchange rate, relative PPP, stationarity, KPSS test, structural breaks
    • jel: jel:F3

In this paper we perform the stationarity test on the Japanese-yen based real exchange rate of major trade partners of Japan, and we investigate the existences of relative PPPs with these countries and areas. The empirical analyses support that relative PPPs with the Un... View more
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