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Is there a Purchasing Power Parity (PPP) Puzzle? New Evidence from a Nonlinear Asymmetric Panel Unit Root Test

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dc.contributor.author Çorakçı, Ayşegül
dc.date.accessioned 2024-03-25T13:04:07Z
dc.date.available 2024-03-25T13:04:07Z
dc.date.issued 2016
dc.identifier.citation Çorakçı, Ayşegül. (2016). "Is there a Purchasing Power Parity (PPP) Puzzle? New Evidence from a Nonlinear Asymmetric Panel Unit Root Test", Ekonomik Yaklaşım, Vol.27, No.99, pp.237-266. tr_TR
dc.identifier.uri http://hdl.handle.net/20.500.12416/7728
dc.description.abstract This study re-examines the validity of the purchasing power parity (PPP) hypothesis for 24 OECD countries. The econometric methodology implemented not only allows for asymmetric nonlinear mean reversion within a panel context, but also corrects for the cross-sectional dependence bias frequently encountered in panel data. This feature is important because a test that ignores the presence of asymmetry and cross-sectional dependence when they are in fact present in the data would lead to misleading results. We obtain relatively stronger evidence in favor of the PPP hypothesis when compared to the other alternative panel unit root tests. However, on the whole, this support is still weak even after allowing for asymmetric nonlinear mean reversion in the real exchange rate series. Therefore, to reconcile the data with the theory further methods should be developed. tr_TR
dc.language.iso eng tr_TR
dc.relation.isversionof 10.5455/ey.35932 tr_TR
dc.rights info:eu-repo/semantics/openAccess tr_TR
dc.subject PPP Hypothesis tr_TR
dc.subject Asymmetric Nonlinear Mean Reversion tr_TR
dc.subject Panel Unit Root Test tr_TR
dc.title Is there a Purchasing Power Parity (PPP) Puzzle? New Evidence from a Nonlinear Asymmetric Panel Unit Root Test tr_TR
dc.type article tr_TR
dc.relation.journal Ekonomik Yaklasim tr_TR
dc.contributor.authorID 103299 tr_TR
dc.identifier.volume 27 tr_TR
dc.identifier.issue 99 tr_TR
dc.identifier.startpage 237 tr_TR
dc.identifier.endpage 266 tr_TR
dc.contributor.department Çankaya Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü tr_TR


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