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Internal Relative Price Stationarity In Long Run Purchasing Power Parity
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Book Synopsis Internal Relative Price Stationarity in Long Run Purchasing Power Parity by : Janice Boucher Breuer
Download or read book Internal Relative Price Stationarity in Long Run Purchasing Power Parity written by Janice Boucher Breuer and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study demonstrates that the joint relationship amongst domestic traded goods prices, domestic non-traded goods prices, foreign traded goods prices, and foreign non-traded goods prices is important to understanding rejections or confirmations of long run PPP. This joint relationship is defined as the "cross-country internal relative price structure." For nine of the ten pairs of countries studied, the cross-country internal relative price structure is found to be stationary; thus, factors other than the influence of non-traded goods prices must be responsible for rejections of long run PPP.
Book Synopsis International Parity Conditions by : Razzaque H. Bhatti
Download or read book International Parity Conditions written by Razzaque H. Bhatti and published by Springer. This book was released on 2016-07-27 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an extensive survey of the theory and empirics of international parity conditions which are critical to our understanding of the linkages between world markets and the movement of interest and exchange rates across countries. The book falls into three parts dealing with the theory, methods of econometric testing and existing empirical evidence. Although it is intended to provide a consensus view on the subject, the authors also make some controversial propositions, particularly on the purchasing power parity conditions.
Book Synopsis Purchasing Power Parity and Real Exchange Rates by : Mark P. Taylor
Download or read book Purchasing Power Parity and Real Exchange Rates written by Mark P. Taylor and published by Routledge. This book was released on 2013-09-13 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: The term Purchasing Power Parity may date from the early twentieth century, when it was coined by the Swedish economist Gustav Cassel, but the underlying concept had been enjoying varying degrees of success since its development in sixteenth century Spain. Even towards the end of the twentieth century, and especially since the breakdown of the Bretton Woods system of fixed exchange rates, PPP and the stability of real exchange rates continued to be the subject of academic debate. This volume brings together essays covering aspects of current thinking on Purchasing Power Parity, from the various ways in which to test for its existence, to its appearance in different economies around the world, to examinations of the explanations given when PPP does not appear to hold This book was published as a special issue of Applied Financial Economics. The academic editor of this journal is Mark P. Taylor.
Book Synopsis Purchasing Power Parity and the Real Exchange Rate by : Lucio Sarno
Download or read book Purchasing Power Parity and the Real Exchange Rate written by Lucio Sarno and published by . This book was released on 2001 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis PURCHASING POWER PARITY AND THE SENSITIVITY OF EXCHANGE RATES TO RELATIVE INFLATION RATES by : JOHN S. STEVENSON
Download or read book PURCHASING POWER PARITY AND THE SENSITIVITY OF EXCHANGE RATES TO RELATIVE INFLATION RATES written by JOHN S. STEVENSON and published by . This book was released on 1976 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Purchasing Power Parity Criterion for Stabilizing Exchange Rates by : International Monetary Fund
Download or read book The Purchasing Power Parity Criterion for Stabilizing Exchange Rates written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-06-21 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of purchasing power parity as a basis of fixing exchange rates among industrial countries, as proposed by McKinnon, is discussed and contrasted with alternative interpretations of the PPP doctrine. Major policy implications of such a regime are emphasized. Furthermore, a new technique for estimating PPP exchange rates which makes use of price pressure exerted by exchange deviation is introduced. This method is capable of solving the “base-year” problem more satisfactorily than the traditional Cassel-Keynes methodology. Estimated yen/dollar and mark/dollar PPP exchange rates are close to estimates derived using other methods.
Book Synopsis The Purchasing Power Parity Debate by : Alan M. Taylor
Download or read book The Purchasing Power Parity Debate written by Alan M. Taylor and published by . This book was released on 2004 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Originally propounded by the sixteenth-century scholars of the University of Salamanca, the concept of purchasing power parity (PPP) was revived in the interwar period in the context of the debate concerning the appropriate level at which to re-establish international exchange rate parities. Broadly accepted as a long-run equilibrium condition in the post-war period, it was first advocated as a short-run equilibrium by many international economists in the first few years following the breakdown of the Bretton Woods system in the early 1970s and then increasingly came under attack on both theoretical and empirical grounds from the late 1970s to the mid 1990s. Accordingly, over the last three decades, a large literature has built up that examines how much the data deviated from theory, and the fruits of this research have provided a deeper understanding of how well PPP applies in both the short run and the long run. Since the mid 1990s, larger datasets and nonlinear econometric methods, in particular, have improved estimation. As deviations narrowed between real exchange rates and PPP, so did the gap narrow between theory and data, and some degree of confidence in long-run PPP began to emerge again. In this respect, the idea of long-run PPP now enjoys perhaps its strongest support in more than thirty years, a distinct reversion in economic thought"--NBER website
Book Synopsis Purchasing Power Parity by : Moon H. Lee
Download or read book Purchasing Power Parity written by Moon H. Lee and published by . This book was released on 1976 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Long-run Purchasing Power Parity During the Recent Float by : Yin-Wong Cheung
Download or read book Long-run Purchasing Power Parity During the Recent Float written by Yin-Wong Cheung and published by . This book was released on 1990 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Century of Purchasing-power Parity by : Alan M. Taylor
Download or read book A Century of Purchasing-power Parity written by Alan M. Taylor and published by . This book was released on 2000 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates purchasing-power parity (PPP) since the late nineteenth century. I collected data for a group of twenty countries over one hundred years, a larger historical panel of annual data than has ever been studied before. The evidence for long-run PPP is favorable using recent multivariate and univariate tests of higher power. Residual variance analysis shows that episodes of floating exchange rates have generally been associated with larger deviations from PPP, as expected; this result is not attributable to significantly greater persistence (longer halflives) of deviations in such regimes, but is due to the larger shocks to the real-exchange rate process in such episodes. In the course of the twentieth century there was relatively little change in the capacity of international market integration to smooth out real exchange rate shocks. Instead, changes in the size of shocks depended on the political economy of monetary and exchange-rate regime choice under the constraints imposed by the trilemma.
Book Synopsis The Principle, Practise and Problems of Purchasing Power Parity Theory by : Alina Ignatiuk
Download or read book The Principle, Practise and Problems of Purchasing Power Parity Theory written by Alina Ignatiuk and published by GRIN Verlag. This book was released on 2009-04 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2008 in the subject Business economics - Miscellaneous, grade: A, Schmalkalden University of Applied Sciences (Schmalkalden University), language: English, abstract: "Under the skin of any international economist lies a deep-seated belief in some variant of the PPP theory of the exchange rate." The purpose of this paper is to consider one of the most controversial theory in international economics - Purchasing Power Parity theory - its main idea, empirical evidence, limitations and practical application. The main idea of PPP is price levels changes determine the exchange rate change between two countries. There are two versions of PPP theory absolute and relative. Stricter absolute version of PPP did not find confirmation in reality and relative version of PPP theory was proposed. Despite theoretical and practical inconformity, PPP is present in many models of international economics as an explanation of exchange rate changes. The main apologist of PPP theory and its father was Gustav Cassel. He indicated that the exchange rate determined by price levels is not necessarily the actual exchange rate but the equilibrium one. Also Cassel mentioned that there is a tendency for the actual exchange rate to return to its equilibrium exchange rate. The original idea of PPP theory is described below: "Our willingness to pay a certain price for foreign money must ultimately and essentially be due to the fact that this money possesses a purchasing power as against commodities and services in that foreign country." In this paper we considered the principle and two versions of PPP theory, discussed its empirical evidence and econometrical tests, and also tried to find possible reasons why PPP theory fails in reality and answered the question is this theory still useful for explaining exchange rates movements.
Book Synopsis Handbook of International Economics by : R.W. Jones
Download or read book Handbook of International Economics written by R.W. Jones and published by North Holland. This book was released on 1984 with total page 654 pages. Available in PDF, EPUB and Kindle. Book excerpt: Textbook, research papers on international economic theory, economic policy and practice - includes a literature survey of theoretical studies in trade relations; covers evolution of economic models explaining the determinants of trade structure, capital flow, labour mobility, trade in natural resources, etc.; examines macroeconomics aspects of balance of payments, exchange rate, international monetary system, economic relations and dependence, etc. Bibliography, graphs, statistical tables.
Book Synopsis Purchasing Power Parity and Exchange Rates by : Lawrence H. Officer
Download or read book Purchasing Power Parity and Exchange Rates written by Lawrence H. Officer and published by Greenwich, Conn. : JAI Press. This book was released on 1982 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evolution of PPP theory; Modern PPP theory and practice; Selected PPP studies.
Book Synopsis A re-examination of the Purchasing Power Parity using non-stationary dynamic panel methods: a comparative approach for developing and developed countries by : Imed Drine and Christophe Rault
Download or read book A re-examination of the Purchasing Power Parity using non-stationary dynamic panel methods: a comparative approach for developing and developed countries written by Imed Drine and Christophe Rault and published by . This book was released on 2003 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Internal and External Exchange Rate Equilibrium in a Cointegration Framework by : Enrique Alberola Ila
Download or read book Internal and External Exchange Rate Equilibrium in a Cointegration Framework written by Enrique Alberola Ila and published by . This book was released on 1999 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Theoretical framework; The empirical model; Estimation and orthogonal decomposition; Empirical analysis.
Book Synopsis What Remains of Purchasing Power Parity? by : Kenneth S. Rogoff
Download or read book What Remains of Purchasing Power Parity? written by Kenneth S. Rogoff and published by . This book was released on 1995 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Currencies, Commodities and Consumption by : Kenneth W. Clements
Download or read book Currencies, Commodities and Consumption written by Kenneth W. Clements and published by Cambridge University Press. This book was released on 2013-01-31 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses economic issues associated with exchange rates, commodity prices, the economic size of countries and alternatives to PPP exchange rates.
