VSE knjižnice (vzajemna bibliografsko-kataložna baza podatkov COBIB.SI)
  • PPP and nonlinearity of real exchange rates : new evidence from transition economies
    Bekő, Jani ; Kavkler, Alenka ; Boršič, Darja
    In this article, we investigate the Purchasing Power Parity (PPP) concept by utilizing a database of monthly real exchange rates from 12 Central and Eastern European economies with respect to ... different numeraire currencies. Owing to the elaborated limitations of linear specifications by verifying this exchange rate theory, we apply a nonlinear unit root test based on the Exponential Smooth Transition Autoregressive (ESTAR) model proposed by Kapetanios et al. (KSS; 2003). Our analysis shows that after taking into account the nonlinear reversion of real exchange rates of European transition economies with respectto the euro, the validity of PPP is confirmed for the majority of countries in the sample.
    Vir: Applied economics letters. - ISSN 1350-4851 (Vol. 19, iss. 18, 2012, str. 1851-1855)
    Vrsta gradiva - članek, sestavni del
    Leto - 2012
    Jezik - angleški
    COBISS.SI-ID - 10988316

    Povezava(-e):

    http://dx.doi.org/10.1080/13504851.2012.667544

    Dostopno z geslom


    DOI

vir: Applied economics letters. - ISSN 1350-4851 (Vol. 19, iss. 18, 2012, str. 1851-1855)
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