Evidence on the purchasing power parity in a panel of cities

Applied Economics

Volumn 36, Issue 9, 2004, Pages 961-966

  Carrion I Silvestre, Josep Lluís ^a   Del Barrio, Tomás ^a   López Bazo, Enrique ^a  

^a UNIVERSITY OF BARCELONA   (Spain)

Author keywords

[No Author keywords available]

Indexed keywords

PANEL DATA; PRICE DYNAMICS; PURCHASING POWER PARITY; URBAN ECONOMY;

EURASIA; EUROPE; SOUTHERN EUROPE; SPAIN;

EID: 3142746943     PISSN: 00036846     EISSN: None     Source Type: Journal    
DOI: 10.1080/0003684042000233186     Document Type: Article

References (32)

1. Abuaf, N. and Jorion, P. (1990) Purchasing power parity in the long run, Journal of Finance, 45, 157-74.
2. Andrews, D. W. K. (1993) Exactly median-unbiased estimation of first order autoregressive/unit root models, Econometrica, 61, 139-65.
3. Andrews, D. W. K. and Chen, H. Y. (1994) Approximately median-unbiased estimation of autoregressive models, Journal of Business and Economic Statistics, 12, 187-204.
4. Cecchetti, S. G., Mark, N. C. and Sonora, R. J. (2002) Price index convergence among United States cities, International Economic Review, 43, 1081-99.
5. Chen, L. L. and Devereux, J. (2003). What can US city price data tell us about purchasing power parity?, Journal of International Money and Finance, 22, 213-22.
6. Cheung, Y. W. and Lai, K. S. (2000) On the purchasing power parity puzzle, Journal of International Economics, 52, 321-30.
7. Corbae, D. and Ouliaris, S. (1991) A test of long-run purchasing power parity allowing for structural breaks, The Economic Record, 67, 26-33.
8. Culver, S. E. and Papell, D. (1999) Panel evidence of purchasing power parity using intranational and international data, Mimeo, Department of Economics, University of Houston.
9. Engel, C. and Rogers, J. H. (2001) Deviations from purchasing power parity: causes and welfare costs, Journal of International Economics, 55, 29-57.
10. Esaka, T. (2003) Panel unit root tests of purchasing power parity between Japanese Cities 1960-1998: disaggregated price data, Japan and the World Economy, 15, 233-44.
11. Fleissig, A. R. and Strauss, J. (2000) Panel unit root tests of purchasing power parity for price indices, Journal of International Money and Finance, 19, 489-506.
12. Frankel, J. (1986) International capital mobility and crowding out in the US economy: imperfect integration of financial markets or of goods markets?, in How Open is the US Economy? (Ed.) R. Hafer, Lexington Books.
13. Froot, K. A. and Rogoff, K. (1995) Perspectives on PPP and long-run real exchange rates, in Handbook of International Economics, Vol. 3 (Eds) G. Grossman and K. Rogoff. Elsevier, North-Holland.
14. Ghysels, E., Lee, H. S. and Noh, J. (1994) Testing for unit roots in seasonal time series, Journal of Econometrics, 62, 415-42.
15. Im, K. S., Pesaran, M. H. and Shin, Y. (2003) Testing for unit roots in heterogeneous panels, Journal of Econometrics, 115, 53-74.
16. Jenkins, M. A. (1997) Cities, borders, distances, non-traded goods and purchasing power parity, Oxford Bulletin of Economics and Statistics, 59, 203-13.
17. Levin, A., Lin, C. F. and Chu, C. S. J. (2002) Unit root tests in panel data: asymptotic and finite-sample properties, Journal of Econometrics, 108, 1-24.
18. Lothian, J. and Taylor, M. (1996) Real exchange rate behaviour: the recent float from the perspective of the past two centuries, Journal of Political Economy, 104, 488-509.
19. Maddala, G. S. and Wu, S. (1999) A comparative study of unit root tests with panel data and a new simple test, Oxford Bulletin of Economics and Statistics, Special Issue, 631-52.
20. Meese, R. and Rogoff, K. (1988) What is real? The exchange rate interest differential relation over the modern floating rate period. Journal of Finance, 43, 933-48.
21. Montanes, A. and Clemente, J. (1999) Real exchange rates and structural breaks: evidence for the Spanish Peseta, Applied Economics Letters, 6, 349-52.
22. Murray, C. J. and Papell, D. H. (2002) The purchasing power parity persistence paradigm, Journal of International Economics, 56, 1-19.
23. Nenna, M. (2001) Price level convergence among Italian cities: any role for the Harrod-Balassa-Samuelson hypothesis? Mimeo, Faculty of Economics, University of Rome La Sapienza.
24. O'Connell, P. (1998) The overvaluation of purchasing power parity, Journal of International Economics, 44, 1-19.
25. O'Connell, P. and Wei, S. J. (2002) The bigger they are, the harder they fall: retail price differences across US cities, Journal of International Economics, 56, 21-53.
26. Oh, K. Y. (1996) Purchasing power parity and unit root tests using panel data, Journal of International Money and Finance, 15, 405-18.
27. Papell, D. (1997) Searching for stationarity: purchasing power parity under the current float, Journal of International Economics, 43, 313-32.
28. Papell, D. (2002) The great appreciation, the great depreciation, and the purchasing power parity hypothesis, Journal of International Economics, 57, 51-82.
29. Papell, D. and Theodoridis, H. (1998) Increasing evidence of purchasing power parity over the current float, Journal of International Money and Finance, 17, 41-50.
30. Papell, D. H. and Theodoridis, H. (2001) The choice of numeraire currency in panel tests of purchasing power parity, Journal of Money, Credit, and Banking, 33, 790-803.
31. Parsley, D. C. and Wei, S. J. (1996) Convergence to the law of one price without trade barriers or currency fluctuations, Quarterly Journal of Economics, 111, 1211-36.
32. Rogoff, K. (1996) The purchasing power parity puzzle, Journal of Economic Literature, 34, 647-68.