THE PURCHASING POWER PARITY HYPOTHESIS TESTED ONCE AGAIN. NEW EMPIRICAL EVIDENCE FOR 28 OECD COUNTRIES

被引:4
作者
Boundi-Chraki, Fahd [1 ]
Tome, Juan Pablo Mateo [1 ]
机构
[1] Univ Complutense Madrid, Madrid, Spain
来源
INVESTIGACION ECONOMICA | 2022年 / 81卷 / 322期
关键词
Purchasing power parity; unit roots; time series; panel data; UNIT-ROOT TESTS; REAL EXCHANGE-RATES; TIME-SERIES; PANEL-DATA; NULL HYPOTHESIS; LONG-RUN; STATIONARITY; PPP;
D O I
10.22201/fe.01851667p.2022.322.82892
中图分类号
F [经济];
学科分类号
02 ;
摘要
The present study is aimed at examining the validity of the purchasing power parity hypothesis for 28 oecd countries over the period 1960Q1-2021Q4. To reach this goal, we apply three methods evaluating whether the real exchange rates are stationary: The traditional unit root tests in time series, the panel unit root tests, and nonlinear unit root tests based on ols and gls detrending. The findings suggest that the purchasing power parity hypothesis does not hold even if the assessment considers nonlinear adjustment.
引用
收藏
页码:3 / 26
页数:24
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