PURCHASING POWER PARITY DOCTRINE: AN UNRESTRICTED COINTEGRATION TEST

The purchasing power parity hypothesis is investigated within a highly economically integrated set of nations, namely the European Monetary System. We use the Phillips‐Hansen Fully Modified Ordinary Least Squares procedure, which for the first time allows for an unrestricted cointegration test of the PPP doctrine. We sequentially test for the weak and strong form of PPP.

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Year of publication:	1996
Authors:	Dutt, Swarna D. ; Ghosh, Dipak
Published in:	Studies in Economics and Finance. - MCB UP Ltd, ISSN 1755-6791, ZDB-ID 2070355-7. - Vol. 16.1996, 2, p. 22-45
Publisher:	MCB UP Ltd

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Type of publication:	Article
Type of publication (narrower categories):	review-article
Language:	English
Other identifiers:	10.1108/eb028720 [DOI]
Source:	Other ZBW resources

Persistent link: https://www.econbiz.de/10015013809