Hooi, Lean Hooi; Smyth, Russell - In: Applied Economics 39 (2007) 16, pp. 2109-2120
There are a number of studies that examine the purchasing power parity (PPP) hypothesis. The empirical findings from the extant literature for the PPP hypothesis are mixed. This article applies univariate and panel Lagrange Multiplier (LM) unit root tests with one and two structural breaks to...