Further evidence on purchasing power parity over two centuries with multiple changes in persistence

By allowing for multiple changes in persistence, this note shows that the US/UK real exchange rate spanning two centuries is stationary. This result is consistent with the previous one in Lothian and Taylor (1996, 2000) and purchasing power parity is a useful approximation in the long run.

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Year of publication:	2008
Authors:	Yoon, Gawon
Published in:	Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 15.2008, 14, p. 1093-1096
Publisher:	Taylor & Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005435620