Browsing by Subject "purchasing power parity"

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Are Asia-Pacific real exchange rates stationary? A regime-switching perspective

Holmes, Mark J. (Wiley-Blackwell, 2010)

This paper tests for long-run purchasing power (PPP) among nine Asia-Pacific countries. Non-stationarity of the real exchange rate is tested within a Markov regime-switching framework. Two new concepts of PPP are defined ...
PPP in OECD countries: An analysis of real exchange rate stationarity, cross-sectional dependency and structural breaks

Holmes, Mark J.; Otero, Jesús; Panagiotidis, Theodore (Springer-Verlag, 2012)

The stationarity of OECD real exchange rates over the period 1972-2008 is tested using a panel of 26 member countries. The methodology followed stems from the need to meet several key concerns: (i) the identification of ...