An alternative test of purchasing power parity
Copyright policy )An alternative test of purchasing power parity
Abstract The Fisher and Seater [Fisher, M.E. and Seater, J.J., 1993. Long run neutrality and superneutrality in an ARIMA framework. American Economic Review 83, 402–415.] methodology is applied to Taylor's [Taylor, A.T., 2002. A century of purchasing power parity. Review of Economics and Statistics 84, 139–150.] data to test for purchasing power parity. Generally, the evidence is supportive of PPP. Further, FS test statistics have no size distortion problem and test power is improved with longer samples.
- University of Quintana Roo Mexico
- East Tennessee State University United States
330, bootstrapping experiment, Purchasing power parity, Fisher-Seater test, Economics and Finance, purchasing power parity, long-horizon regressions, jel: jel:F3, jel: jel:F4
330, bootstrapping experiment, Purchasing power parity, Fisher-Seater test, Economics and Finance, purchasing power parity, long-horizon regressions, jel: jel:F3, jel: jel:F4
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