V., K S Liew and Lee, Hock Ann and Lim, Kian Ping (2009) Purchasing power parity in Asian economies: Further evidence from rank tests for cointegration. Applied Economics Letters, 16 (1). pp. 51-54. ISSN 1350-4851
|
Text
Purchasing_power_parity_in_Asian_economies.pdf Download (43kB) | Preview |
Abstract
The finding of nonlinear cointegration between Asian exchange rates with the corresponding relative prices and aggregate price levels based on Breitung's (2001) nonparametric rank tests reinforces previous validations of purchasing power parity (PPP) by the parametric testing procedures. Hence, the long-run Asian exchange rates are in equilibrium with the relevant fundamentals as suggested by the PPP hypothesis.
| Item Type: | Article |
|---|---|
| Keyword: | Cointegration analysis, Exchange rate, Hypothesis testing, Price dynamics, Purchasing power parity |
| Subjects: | H Social Sciences > HB Economic theory. Demography > HB1-3840 Economic theory. Demography > HB801-843 Consumption. Demand |
| Department: | SCHOOL > Labuan School of International Business and Finance |
| Depositing User: | ADMIN ADMIN |
| Date Deposited: | 23 Mar 2011 09:52 |
| Last Modified: | 16 Oct 2017 15:28 |
| URI: | https://eprints.ums.edu.my/id/eprint/358 |
Actions (login required)
 |
View Item |