Revisiting Purchasing Power Parity in OECD Countries: New Evidence from Nonlinear Unit Root Test with Structural Breaks

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dc.authoridAlper, Ali Eren/0000-0003-0008-1202
dc.contributor.authorUgur, Mehmet Sedat
dc.contributor.authorAlper, Ali Eren
dc.date.accessioned2024-11-07T13:31:31Z
dc.date.available2024-11-07T13:31:31Z
dc.date.issued2023
dc.departmentNiğde Ömer Halisdemir Üniversitesi
dc.description.abstractThis study aims to investigate the purchasing power parity (PPP) hypothesis for 38 OECD member countries over the period 1994:M1-2021:M9 by performing Hepsag's (2021) unit root test. It fills the gap in the literature since it is one of the first studies conducted performing a unit root test that considers structural change and nonlinearity for all OECD countries. The study, in which conventional unit root tests such as the ADF, KPSS, and the Fourier KPSS, which allow merely structural change, yield conflicting results regarding the validity of the PPP hypothesis, determines that the PPP hypothesis is valid for countries with stationary real effective exchange rates at the level such as Finland, France, Germany, Greece, Hungary, Iceland, Italy, Japan, Korea, Lithuania, Luxembourg, Mexico, Norway, Slovakia, Slovenia, Spain, Switzerland, Turkey, and the USA according to Hepsag's (2021) unit root test results.
dc.identifier.doi10.17233/sosyoekonomi.2023.03.02
dc.identifier.endpage46
dc.identifier.issn1305-5577
dc.identifier.issue57
dc.identifier.scopus2-s2.0-85191964888
dc.identifier.scopusqualityN/A
dc.identifier.startpage25
dc.identifier.trdizinid1193078
dc.identifier.urihttps://doi.org/10.17233/sosyoekonomi.2023.03.02
dc.identifier.urihttps://search.trdizin.gov.tr/tr/yayin/detay/1193078
dc.identifier.urihttps://hdl.handle.net/11480/14887
dc.identifier.volume31
dc.identifier.wosWOS:001041774300002
dc.identifier.wosqualityN/A
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.indekslendigikaynakTR-Dizin
dc.language.isoen
dc.publisherSosyoekonomi Soc
dc.relation.ispartofSosyoekonomi
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_20241106
dc.subjectReal Effective Exchange Rates
dc.subjectOECD
dc.subjectPurchasing Power Parity
dc.subjectNonlinearities
dc.subjectStructural Break
dc.subjectUnit Root
dc.titleRevisiting Purchasing Power Parity in OECD Countries: New Evidence from Nonlinear Unit Root Test with Structural Breaks
dc.title.alternativeOECD Ülkelerinde Satın Alma Gücü Paritesinin İncelenmesi: Doğrusal Olmayan Yapısal Kırılmalı Birim Kök Testinden Yeni Kanıtlar
dc.typeArticle

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