| dc.creator |
Fischer, Christoph |
|
| dc.date |
2004 |
|
| dc.date.accessioned |
2013-10-16T07:05:10Z |
|
| dc.date.available |
2013-10-16T07:05:10Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
http://hdl.handle.net/10419/19474 |
|
| dc.identifier |
ppn:385183461 |
|
| dc.identifier |
RePEc:zbw:bubdp1:1820 |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/19474 |
|
| dc.description |
By disaggregating price indices, it becomes apparent that the real exchange rate consists of the real exchange rate for a single good and a weighted sum of relative prices between goods. When applying a battery of panel unit root tests to this sum and its components, it is found that both the sum and the relative prices are non-stationary. This implies that PPP is invalid even if the LOP holds for all goods. The findings contrast with the result from panel unit root tests that real exchange rates as a whole are stationary. Several suggestions for solving the conflict are discussed. |
|
| dc.language |
eng |
|
| dc.relation |
Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2004,07 |
|
| dc.rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
|
| dc.subject |
C33 |
|
| dc.subject |
F31 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
purchasing power parity |
|
| dc.subject |
real exchange rate |
|
| dc.subject |
panel unit root tests |
|
| dc.subject |
Kaufkraftparität |
|
| dc.subject |
Preisindex |
|
| dc.subject |
Aggregation |
|
| dc.subject |
Schätzung |
|
| dc.subject |
Theorie |
|
| dc.subject |
OECD-Staaten |
|
| dc.title |
PPP: a Disaggregated View |
|
| dc.type |
doc-type:workingPaper |
|