Basher, Syed A.; Carrion-i-Silvestre, Josep Lluís - Facultat d'Economia i Empresa, Universitat de Barcelona - 2007
multiple structural breaks that have not received much attention in previous panel methods of long-run PPP. Empirical results … indicate that there is little evidence in favor of PPP hypothesis when the analysis does not account for structural breaks …. This conclusion is reversed when structural breaks are considered in computation of the panel statistics. We also compute …