This paper investigates the validity of purchasing power parity (PPP) for 25 OECD countries by using a panel unit-root methodology. The procedure used here is to examine stationarity of real exchange rate. Using ADF unit-root test on single time-series, it is found that real exchange rate of all...

The study analyzed dynamics of the relationship between tourism, energy consumption, and climate change for 25 OECD countries during 1995-2005. For the analysis, Panel VAR (PVAR) model was used. Results of panel unit root-tests show that tourism is nonstationary in the level form but stationary...