Purchasing Power Parity And Real Exchange Rates
Download Purchasing Power Parity And Real Exchange Rates full books in PDF, epub, and Kindle. Read online free Purchasing Power Parity And Real Exchange Rates ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Author | : Mark P. Taylor |
Publisher | : Routledge |
Total Pages | : 227 |
Release | : 2013-09-13 |
Genre | : Business & Economics |
ISBN | : 1317988205 |
The term Purchasing Power Parity may date from the early twentieth century, when it was coined by the Swedish economist Gustav Cassel, but the underlying concept had been enjoying varying degrees of success since its development in sixteenth century Spain. Even towards the end of the twentieth century, and especially since the breakdown of the Bretton Woods system of fixed exchange rates, PPP and the stability of real exchange rates continued to be the subject of academic debate. This volume brings together essays covering aspects of current thinking on Purchasing Power Parity, from the various ways in which to test for its existence, to its appearance in different economies around the world, to examinations of the explanations given when PPP does not appear to hold This book was published as a special issue of Applied Financial Economics. The academic editor of this journal is Mark P. Taylor.
Author | : Lawrence H. Officer |
Publisher | : Greenwich, Conn. : JAI Press |
Total Pages | : 394 |
Release | : 1982 |
Genre | : Business & Economics |
ISBN | : |
Evolution of PPP theory; Modern PPP theory and practice; Selected PPP studies.
Author | : Lucio Sarno |
Publisher | : |
Total Pages | : 344 |
Release | : 2002 |
Genre | : Business & Economics |
ISBN | : |
Author | : Lucio Sarno |
Publisher | : |
Total Pages | : 52 |
Release | : 2001 |
Genre | : Foreign exchange rates |
ISBN | : |
Author | : Mr.Tamim Bayoumi |
Publisher | : International Monetary Fund |
Total Pages | : 18 |
Release | : 1998-05-01 |
Genre | : Business & Economics |
ISBN | : 1451960840 |
We examine the mean-reverting properties of real exchange rates, by comparing the unit root properties of a group of international real exchange rates with two groups of intra-national real exchange rates. Strikingly, we find that while the international real rates taken as a group appear mean-reverting, the intra-national rates are not. This is consistent with the view that while monetary shocks may be mean-reverting over the medium term, underlying real factors do generate long-term trends in real exchange rates.
Author | : Razzaque H. Bhatti |
Publisher | : Springer |
Total Pages | : 389 |
Release | : 2016-07-27 |
Genre | : Business & Economics |
ISBN | : 1349255238 |
This book presents an extensive survey of the theory and empirics of international parity conditions which are critical to our understanding of the linkages between world markets and the movement of interest and exchange rates across countries. The book falls into three parts dealing with the theory, methods of econometric testing and existing empirical evidence. Although it is intended to provide a consensus view on the subject, the authors also make some controversial propositions, particularly on the purchasing power parity conditions.
Author | : OECD |
Publisher | : OECD Publishing |
Total Pages | : 448 |
Release | : 2012-11-30 |
Genre | : |
ISBN | : 9264189238 |
This manual gives a complete, detailed and up-to-date description of the Eurostat-OECD PPP Programme, including its organisation, the various surveys carried out by participating countries and the ways PPPs are calculated and disseminated. It also provides guidance on the use of PPPs.
Author | : Marc Munzer |
Publisher | : GRIN Verlag |
Total Pages | : 16 |
Release | : 2009-08-19 |
Genre | : Business & Economics |
ISBN | : 364040470X |
Seminar paper from the year 2009 in the subject Business economics - Investment and Finance, grade: 1,3, University of Hull, language: English, abstract: The Swedish economist Gustav Cassel developed his theory of Purchasing Power Parity (henceforth PPP) more than 80 years. Ago, and today it is still an essential part of the framework for forecasting exchange rates, which includes parity conditions in international finance. International parity conditions imply purchasing power parity, the Fisher effect, the interest rate parity theory and the expectations theory. “They are the set of equilibrium relationships which should hold between product prices, interest rates, and spot and forward exchange rates assuming a freely floating exchange system.” (Demirag and Goddard, 1994, 70) Unfortunately, these theories do not always work out in reality, especially in times of financial crisis. However, they give us a central understanding of how and why multinational business is related in the world. Sometimes, “the mistake is not always in the theory itself, but in the way it is interpreted or applied in practice” (Eitemann et.al., 2004, 133). This essay will take a detailed look at PPP, its theoretical perspective, and the empirical evidence for it. [...]
Author | : Kenneth W. Clements |
Publisher | : Cambridge University Press |
Total Pages | : 401 |
Release | : 2013-01-31 |
Genre | : Business & Economics |
ISBN | : 110701476X |
Discusses economic issues associated with exchange rates, commodity prices, the economic size of countries and alternatives to PPP exchange rates.
Author | : Mr.Jean Imbs |
Publisher | : International Monetary Fund |
Total Pages | : 43 |
Release | : 2003-04-01 |
Genre | : Business & Economics |
ISBN | : 145184901X |
We show the importance of a dynamic aggregation bias in accounting for the PPP puzzle. We prove that established time-series and panel methods substantially exaggerate the persistence of real exchange rates because of heterogeneity in the dynamics of disaggregated relative prices. When heterogeneity is properly taken into account, estimates of the real exchange rate half-life fall dramatically, to little more than one year, or significantly below Rogoff's "consensus view" of three to five years. We show that corrected estimates are consistent with plausible nominal rigidities, thus, arguably, solving the PPP puzzle.