This study uses an enhanced powerful nonparametric cointegration test developed by Bierens (1997) to re-investigate whether there are long-run benefits from international equity diversification between the United States and BRICS countries (i.e., Brazil, Russia, India, China, and South Africa),...

In this study, the panel Seemingly Unrelated Regressions Augmented Dickey-Fuller (SURADF) tests advanced by Breuer et al. (2001) are used to test the validity of Purchasing Power Parity (PPP) for G-7 countries over the period 1980M1 to 2008M5. The empirical results from several panel-based unit...

In this study, we apply the panel Seemingly Unrelated Regressions Augmented Dickey-Fuller (SURADF) tests developed by Breuer et al. (2001) to revisit the validity of Purchasing Power Parity (PPP) for 16 Latin American countries. The empirical results from several panel-based unit root tests...

Purchasing Power Parity (PPP) for transition economies is tested using Panel Seemingly Unrelated Regressions Augmented Dickey-Fuller (SURADF) tests of Breuer et al. (2001) for the period of January 1995 to December 2008. Although the other panel-based unit-root tests are joint tests of a unit...