Increasing evidence of purchasing power parity over the current float

Journal of International Money and Finance

Volumn 17, Issue 1, 1998, Pages 41-50

  Papell, David H ^a   Theodoridis, Hristos ^a  

^a UNIVERSITY OF HOUSTON   (United States)

Author keywords

F31

Indexed keywords

EID: 0032545906     PISSN: 02615606     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0261-5606(97)00050-8     Document Type: Article

References (26)

1. Abuaf N., Jorion P. Purchasing power parity in the long run. J. Finance. 45:1990;157-174.
2. Campbell, J., Perron, P., 1991. Pitfalls and opportunities: what macroeconomists should know about unit roots. NBER Macroecon. Ann., 141-201.
3. Canzoneri, M., Cumby, R., Diba, B., 1996. Relative Labor Productivity and the Real Exchange Rate in the Long Run, Evidence for a Panel of OECD Countries. Manuscript, Georgetown University.
4. Cassel, G., 1922. Money and Foreign Exchange After 1914. MacMillan, New York.
5. Dornbusch, R., 1987. Purchasing power parity. In: Eatwell, J., Migare, M., Newman, P. (Eds.), The New Palgrave Dictionary. Stockton Press, New York.
6. Frankel, J., 1986. International capital mobility and crowding out in the US economy: imperfect integration of financial markets or of goods markets? In: Hafer, R. (Ed.), How Open is the US Economy? Lexington Books.
7. Frankel J., Rose A. A panel project on purchasing power parity: mean reversion within and between countries. J. Int. Econ. 40:1996;209-224.
8. Froot, K., Rogoff, K., 1995. Perspectives on PPP and long-run real exchange rates. In: Grossman, G., Rogoff, K. (Eds.), Handbook of International Economics. North-Holland, Amsterdam.
9. Hakkio C. A reexamination of purchasing power parity. J. Int. Econ. 17:1984;265-277.
10. Hegwood, N., Papell, D., 1997. Quasi Purchasing Power Parity. Manuscript, University of Houston.
11. Im, S., Pesaran, H., Shin, Y., 1995. Testing for Unit Roots in Heterogeneous Panels. Department of Applied Economics Working Paper #9526, University of Cambridge.
12. Jorion P., Sweeney R. Mean reversion in real exchange rates: evidence and implications for forecasting. J. Int. Money Finance. 15:1996;535-550.
13. Levin, A., Lin, C.F., 1992. Unit Root Tests in Panel Data: Asymptotic and Finite-sample Properties. Discussion Paper 92-23. University of California at San Diego.
14. Lothian J. Multi-country evidence on the behavior of purchasing power parity under the current float. J. Int. Money Finance. 16:1997;19-35.
15. Lothian J., Taylor M. Real exchange rate behavior: the recent float from the perspective of the past two centuries. J. Political Econ. 104:1996;488-509.
16. MacKinnon, J., 1991. Critical values for cointegration tests. In: Engle, R., Granger, C. (Eds.), Long Run Economic Relationships: Readings in Cointegration, pp. 267-276.
17. Ng S., Perron P. Unit root tests in ARMA models with data dependent methods for the selection of the truncation lag. J. Am. Stat. Ass. 90:1995;268-281.
18. O'Connell P. The overvaluation of purchasing power parity. J. Int. Econ. 43:1997;313-332.
19. Oh K.-Y. Purchasing power parity and unit root tests using panel data. J. Int. Money Finance. 15:1996;405-418.
20. Papell, D., 1997. Searching for stationarity: purchasing power parity under the current float. J. Int. Econ. (in press).
21. Papell, D., Theodoridis, H., 1997. The Choice of Numeraire Currency in Panel Tests of Purchasing Power Parity. Manuscript, University of Houston.
22. Pedroni, P., 1995. Panel Cointegration: Asymptotic and Finite Sample Properties of Pooled Time Series Tests with an Application to the PPP Hypothesis. Working Paper No. 95-013, Indiana University.
23. Rogoff K. The purchasing power parity puzzle. J. Econ. Lit. 34:1996;647-668.
24. Shiller R., Perron P. Testing the random walk hypothesis: power versus frequency of observation. Econ. Lett. 18:1985;381-386.
25. Wei, S.J., Parsley, D., 1995. Purchasing Power Dis-parity During the Floating Rate Period: Exchange Rate Volatility, Trade Barriers and other Culprits. Manuscript, Harvard University.
26. Wu Y. Are real exchange rates nonstationary? Evidence from a panel-data test. J. Money, Credit Bank. 28:1996;54-63.