کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5086204 | 1375157 | 2011 | 6 صفحه PDF | دانلود رایگان |
In this study, we applied a threshold cointegration test advanced by Enders and Siklos (2001) to investigate the properties of asymmetric adjustment on long-run purchasing power parity (PPP) in G-7 countries between January 1994 and April 2010. Although there was strong evidence of long-run PPP for these G-7 countries, with the exception of Canada, the adjustment mechanism was asymmetric. These results have important policy implications for G-7 countries.
⺠We use a threshold cointegration test to investigate the properties of asymmetric adjustment on long-run purchasing power parity (PPP) in G-7 countries. ⺠Strong evidence of long-run PPP for the G-7 countries found and the adjustment mechanism was asymmetric. ⺠Results have important policy implications.
Journal: Japan and the World Economy - Volume 23, Issue 4, December 2011, Pages 259-264