Exchange rate misalignment: a new test of long-run PPP based on cross-country data

• Autores: Pan A. Yotopoulos, Yasuyuki Sawada
• Localización: Applied financial economics, ISSN 0960-3107, Vol. 16, Nº. 1-2, 2006 (Ejemplar dedicado a: Special Issue: Purchasing Power Parity and Real Exchange Rates), págs. 127-134
• Idioma: inglés
• DOI: 10.1080/09603100500391123
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• Resumen

  • A new empirical procedure is formulated and implemented to test long-run PPP by using cross-country data. It is found that out of a total of 153 countries, 132 and 105 countries have achieved PPP within 20 years and ten years, respectively.