Pitfalls in panel tests of purchasing power parity

被引：5

作者：

Anker, P ^{[1
]}

机构：

[1] Univ Giessen, FB Wirtschaftswissenschaft, Volkswirtschaftslehre V, D-35394 Giessen, Germany

来源：

WELTWIRTSCHAFTLICHES ARCHIV-REVIEW OF WORLD ECONOMICS | 1999年 / 135卷 / 03期

关键词：

D O I：

10.1007/BF02707334

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Pitfalls in Panel Tests of Purchasing Power Parity. - The results of panel unit root tests applied to real exchange rates as a test of long-run purchasing power parity (PPP) diverge much. In particular, due to misspecifications there is little evidence of the convergence of real exchange rates for the German mark. This paper provides evidence of this issue by analyzing large panels of real exchange rates vis-g-vis the German mark and the dollar. In particular, the impact of the base country and various aspects of the dynamic specifications are analyzed. Overall? the results provide strong evidence in favour of PPP as a long-run relationship.

引用

页码：437 / 453

页数：17

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