econometric method developed by Pesaran which controls for the cross-section dependence in a panel, we are not able to reject the … hypothesis that the sectoral real exchange rates contain a common stochastic trend. On the other hand, the well-known panel unit … the error term of the regression for our panel exhibits significant cross-section dependence, these opposite results …

the decade 1999-2009. The literature has recently arrived to a solution to the two PPP puzzles if considering the post …-Bretton Woods period from 1975 to 1998. Time series-based studies consider few cases, while panel-based studies have been recently … criticized. Multivariate and panel cointegration, and nonlinear models are here implemented. The theory is rejected and both the …

apparently in favour of Balassa-Samuelson effects may require a re-interpretation. The model is estimated for a panel of CEE … scheinen, müssen deshalb möglicherweise neu interpretiert werden. Das Modell wird für ein Panel von mittel- und osteuropäischen …

apparently in favour of Balassa-Samuelson effects may require a re-interpretation. The model is estimated for a panel of CEE … scheinen, müssen deshalb möglicherweise neu interpretiert werden. Das Modell wird für ein Panel von mittel- und osteuropäischen …

Existing studies generally reject purchasing power parity (PPP) on datasets from countries that have been affected by … large real shocks, including Norway. However, we offer strong evidence of PPP between Norway and its trading partners during … appears remarkably consistent with the PPP theory. Moreover, convergence towards PPP is relatively fast; the half-life of a …

This paper examines the validity of both the short-run and long-run purchasing power parity (PPP) hypotheses in Japan … long-run. On the other hand, from the second test, we found that there is a strongly robust long-run PPP relationship but … no significant short-run PPP relationship. Furthermore, unlike the previous literature, this paper confirms the stability …

apparently in favour of Balassa-Samuelson effects may require a re-interpretation. The model is estimated for a panel of CEE … scheinen, müssen deshalb möglicherweise neu interpretiert werden. Das Modell wird für ein Panel von mittel- und osteuropäischen …