The aim of this paper is to apply recently developed panel cointegration techniques proposed by Pedroni (1999, 2004 … regime doesn't condition the validity of PPP which is more easily accepted in countries with high than low inflation. …

This paper explores theoretically and empirically the long run relation of the terms of trade (ratio of domestic and … trade towards PPP during a catch-up process, which suggests very long half-life times of terms of trade. Two theoretical … interdependencies between the terms of trade and economic growth are offered: the home market effect and the productivity shock effect …

panel cointegration framework. Besides the traditional determinants of cash demand like transactions balances and …

January 1993 to December 2020 for five inflation-targeting countries (the UK, Canada, Australia, New Zealand and Sweden) and … speed is twice as fast when deviations are small and the credibility of the central bank is higher. Third, inflation …

) misalignment on trade flows are symmetric, this paper considers a more general and realistic framework allowing for possible … trade between China and the U.S. in order to avoid the well-known aggregation bias. Estimates of symmetric error … in assessing the effects of the RE misalignment on trade flows between the U.S. and China and confirms that the impacts …

measures of inflation expectations for five inflation targeting countries (UK, Canada, Australia, New Zealand, Sweden) over the … PPP. Moreover, inflation expectations play an important role, with survey-based ones having a more sizable effect than … fluctuations effectively. The inflation targeting framework might be especially appropriate for this purpose …