PPP and the real exchange rate-real interest rate differential puzzle revisited: evidence from non-stationary panel data

Preprint OPEN
Georgios E. Chortareas; Rebecca L. Driver;
(2001)

This paper examines the evidence for two of the relationships that underpin (explicitly or implicitly) much of international macroeconomics. The first is purchasing power parity (PPP), or the hypothesis that there exists a constant long-run equilibrium real exchange rat... View more
  • References (3)

    R I R D F R I R D F Phillips, P C B and Moon, H R (1999a), 'Non-stationary panel data analysis: an overview of some recent developments', Yale University, mimeo.

    Phillips, P C B and Moon, H R (1999b), 'Linear regression limit theory for non-stationary panel data', Econometrica, Vol. 67, pages 1,057-111.

    Phillips, P and Perron, P (1988), 'Testing for a unit root in time series regression', Biometrika, Vol. 75, pages 335-46.

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