Does inflation targeting matter for PPP? An empirical investigation

被引：2

作者：

Ding, Hui ^{[1
]}

Kim, Jaebeom ^{[1
]}

机构：

[1] Oklahoma State Univ, Spears Sch Business, Dept Econ, Stillwater, OK 74078 USA

来源：

APPLIED ECONOMICS LETTERS | 2012年 / 19卷 / 18期

关键词：

purchasing power parity; real exchange rate; inflation targeting; cross-sectional dependence; panel unit root; PURCHASING POWER PARITY; EXCHANGE-RATES; HYPOTHESIS; PANEL;

D O I：

10.1080/13504851.2012.659336

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This article examines whether Inflation Targeting (IT) matters for long-run Purchasing Power Parity (PPP). For this purpose, we formally assess the evidence on PPP for a panel of 19 countries using two price indices and two panel unit root tests with cross-sectional dependence. The empirical results show that IT plays an important role in providing favourable evidence for long-run PPP.

引用

页码：1777 / 1780

页数：4

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