Intranational, intracontinental, and intraplanetary PPP

被引：14

作者：

Engel, C ^{[1
]}

Hendrickson, MK

Rogers, JH

机构：

[1] Univ Washington, Dept Econ, Seattle, WA 98195 USA

[2] NBER, Cambridge, MA 02138 USA

[3] Fed Reserve Syst, Board Governors, Fed Reserve Board, Int Finance Div, Washington, DC 20551 USA

来源：

JOURNAL OF THE JAPANESE AND INTERNATIONAL ECONOMIES | 1997年 / 11卷 / 04期

基金：

美国国家科学基金会;

关键词：

D O I：

10.1006/jjie.1997.0388

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

A model of adjustment toward PPP for a panel of real exchange rates is introduced that allows varying speeds of convergence within nations, within continents and across continents. We allow for correlation across equations in our panel, and estimate the model using generalized least squares. The panel consists of the price levels of eight cities in four countries and two continents. We do not find evidence in favor of reversion to PPP for any group of cities. (C) 1997 Academic Press.

引用

页码：480 / 501

页数：22

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