Purchasing power parity in OECD countries: Evidence from panel unit root

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dc.contributor.authorKalyoncu H.
dc.contributor.authorKalyoncu K.
dc.date.accessioned2019-08-01T13:38:39Z
dc.date.available2019-08-01T13:38:39Z
dc.date.issued2008
dc.departmentNiğde ÖHÜ
dc.description.abstractThis paper investigates the validity of purchasing power parity (PPP) for 25 OECD countries by using a panel unit-root methodology. The procedure used here is to examine stationarity of real exchange rate. Using ADF unit-root test on single time-series, it is found that real exchange rate of all OECD countries have unit root. This outcome, however, might be due to the generally low power of this test. The aim of this paper is to reconsider this issue by exploiting the extra information provided by the combination of the time-series and cross-sectional data and the subsequent power advantages of panel data unit-root tests. We apply the test advocated by Im et al. [Im, K.S., Pesaran, M.H., Shin, Y., 1997. Testing for unit roots in heterogenous panels. University of Cambridge, Department of Applied Economics]. According to estimation results real exchange rate in OECD countries are stationary and support long-run purchasing power parity. © 2007 Elsevier B.V. All rights reserved.
dc.identifier.doi10.1016/j.econmod.2007.07.003
dc.identifier.endpage445
dc.identifier.issn0264-9993
dc.identifier.issue3
dc.identifier.scopus2-s2.0-40649106720
dc.identifier.scopusqualityQ1
dc.identifier.startpage440
dc.identifier.urihttps://dx.doi.org/10.1016/j.econmod.2007.07.003
dc.identifier.urihttps://hdl.handle.net/11480/1145
dc.identifier.volume25
dc.identifier.wosWOS:000255315300005
dc.identifier.wosqualityQ4
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.institutionauthor[0-Belirlenecek]
dc.language.isoen
dc.relation.ispartofEconomic Modelling
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.subjectPanel data unit-root test
dc.subjectPPP
dc.subjectReal exchange rate
dc.titlePurchasing power parity in OECD countries: Evidence from panel unit root
dc.typeArticle

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