In this note the Purchasing Power Parity theory during the 1920s is tested using the co-integration approach. The results do not support the theory. Although exchange rates and prices are non-stationary in the levels, no equilibrium relationship holds among them. © 1989.
Ardeni P.G., Lubian D. (1989). Purchasing power parity during the 1920s. ECONOMICS LETTERS, 30(4), 357-362 [10.1016/0165-1765(89)90092-X].
Purchasing power parity during the 1920s
Ardeni P. G.
;
1989
Abstract
In this note the Purchasing Power Parity theory during the 1920s is tested using the co-integration approach. The results do not support the theory. Although exchange rates and prices are non-stationary in the levels, no equilibrium relationship holds among them. © 1989.File in questo prodotto:
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