CHAUDHURI, KAUSIK; SHEEN, JEFFREY - In: The Economic Record 80 (2004) 250, pp. 314-329
Panel unit root tests show that intranational purchasing power parity cannot be rejected across major Australian cities from 1972:3 to 1999:1. The persistence of deviations in response to shocks is low, as measured by the estimated exact half-life of between five and ten quarters. This is much...