Revisiting Purchasing Power Parity for Nine Transition Countries Using the Rank Test for Nonlinear Cointegration

This study applies the powerful rank test for nonlinear cointegration proposed by Brietung (2001) to test the validity of long-run purchasing power parity (PPP) for nine transition countries from January 1995 to December 2008. The empirical results indicate that PPP holds true for all nine transition countries studied. Our results have important policy implications for these nine transition countries.

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Year of publication:	2011
Authors:	Chang, Tsangyao ; Chiu, Chi Chen ; Tzeng, Han Wen
Published in:	Journal for Economic Forecasting. - Institutul de Prognoza Economica. - 2011, 2, p. 19-30
Publisher:	Institutul de Prognoza Economica
Subject:	Rank Test for Nonlinear Cointegration \| Purchasing Power Parity \| Transition Countries

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Type of publication:	Article
Language:	English
Classification:	C22 - Time-Series Models ; F31 - Foreign Exchange
Source:	RePEc - Research Papers in Economics

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