Showing 1 - 10 of 20
The present paper investigates whether Greek gasoline prices respond symmetrically to changes in international oil prices. The study uses all available observations and applies the TAR (Threshold Auto-Regressive) methodology, which is considered to be the most reliable econometric technique...
Persistent link: https://www.econbiz.de/10010855032
Problems faced by empirical studies of the purchasing power parity (PPP) hypothesis are: the choice between a multilateral and a bilateral approach, the choice of the appropriate price index and the problem of simultaneous determination of prices and exchange rates. In the present paper, we...
Persistent link: https://www.econbiz.de/10005697656
Persistent link: https://www.econbiz.de/10007674066
This paper is an exercise in applied macroeconomic forecasting. We examine the forecasting power of a vector error-correction model (VECM) that is anchored by a long-run equilibrium relationship between Greek national income and productive public expenditure as suggested by the economic theory....
Persistent link: https://www.econbiz.de/10005556281
This paper investigates empirically the long-run linkages between sectoral relative prices and labor productivities implied by the Balassa (1964) ans Samuelson (1964) framework. The role of wage non-homogeneity across sectors is explored by incorporating sectoral wages into the analysis.The...
Persistent link: https://www.econbiz.de/10005170115
The present paper tests for the validity of long-run purchasing power parity (PPP) for the three key currencies of the recent floating exchange rate period, the US dollar, the German mark and the Japanese yen. The novelty of the paper is that the validity of the PPP conditions relating the...
Persistent link: https://www.econbiz.de/10005523522
Persistent link: https://www.econbiz.de/10005403391
The present paper examines whether six of the new European Union member states -the six Central and Eastern European Countries- form an optimum currency area (OCA) with the eurozone. The study applies the theory of Generalized Purchasing Power Parity, which analyses the behavior of the long-run...
Persistent link: https://www.econbiz.de/10010850081
The present study tests for the validity of long-run Purchasing Power Parity (PPP) for 17 European economies in transition. Analysis is performed following the methodological suggestions expressed in recent studies for PPP. Long-run PPP is initially tested for each economy vis-a-vis the USA,...
Persistent link: https://www.econbiz.de/10005637862
Recent studies in the international economics literature emphasize the role of home bias in explaining a number of empirical puzzles. In the present study, we test for the following hypotheses: (i) that a home bias effect, which is nevertheless falling over time as traded goods markets become...
Persistent link: https://www.econbiz.de/10005698482