Purchasing power parity in OECD countries: Evidence from panel unit root

Kalyoncu, Hüseyin; Kalyoncu, Kahraman

doi:10.1016/j.econmod.2007.07.003

Cited by 28 publications

(13 citation statements)

References 40 publications

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“…Based on panel data studies and seemingly unrelated (SUR) estimator, their result suggest that there is a convergence process toward PPP within Euro area (with the exception of Switzerland) induced by the economic integration in Europe. Also based on panel data studies, similar findings also presented by Kalyoncu & Kalyoncu (2008). Investigating the existence of long run PPP in 25 OECD countries, where most of them are advanced economies, they were able to reject the non-stationarity of the series.…”

Section: Empirical Studiessupporting

confidence: 72%

The Existence of Long-Run PPP: A Comparison between Developed and Developing Countries

Iskandar¹

2016

ECON FINANC INDONES

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McNown & Wallace (1989) argued that PPP will tend to holds in less developed countries due to the domination of nominal factors in the economy. In this study we try to investigate the existence of long-run PPP in eight countries consisting four developed and developing countries. Here we show that there is a strong evidence that long-run PPP holds for Germany, United Kingdom, and Chile. Furthermore, the additional tests also show that symmetry and proportionality conditions seem to hold in the three economies. As for other five economies, long-run PPP seems to be absence. Although one step general Error Correction Model and Johansen-Juselius cointegration procedure generates conflicting result, the result of both technique do not show a tendency for PPP to hold in developing countries thus rejecting argument proposed by McNown and Wallace. Keywords: Purchasing Power Parity; Cointegration Test; Developed Countries; Developing Countries AbstrakMcNown & Wallace (1989) mengemukakan argumen bahwa PPP akan cenderung berlaku di negara-negara yang belum maju disebabkan adanya dominasi faktor nominal dalam perekonomian. Dalam penelitian ini kami mencoba untuk menyelidiki keberadaan dari long-run PPP di delapan negara yang terdiri dari empat negara maju dan berkembang. Hasil estimasi menunjukkan adanya bukti kuat bahwa long-run PPP berlaku pada Jerman, Inggris, dan Cile. Hasil, tes lanjutan juga menunjukkan bahwa kondisi simetri dan proporsionalitas nampak bertahan di tiga negara tersebut. Sedangkan untuk lima negara lainnya, long-run PPP tidak nampak keberadaannya. Meskipun hasil pada one step Error Correction Model (ECM) dan Johansen-Juselius cointegration procedure menghasilkan hasil yang bertentangan, namun hasil dari kedua metode tersebut konsisten tidak menunjukkan kecenderungan akan eksistensi PPP di negara berkembang.

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Section: Empirical Studiessupporting

confidence: 72%

The Existence of Long-Run PPP: A Comparison between Developed and Developing Countries

Iskandar¹

2016

ECON FINANC INDONES

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“…From the beginning of the 1990s, panel unit root approaches have been applied to test stationarity of the real exchange rate. ISSN(e): 2222-6737/ISSN(p): 2305-2147 However, a large number of studies provide empirical evidence for the strict form of the PPP theory by incorporating the panel unit root test, such as Wu (1996);Frankel and Rose (1996);Papell (1997);Meier (1997); Kalyoncu and Kalyoncu (2008). However, the results vary with sample periods, perfection of money market, integration of economies and underlying assumptions of the panel unit root test.…”

Section: Introductionmentioning

confidence: 88%

Is the Exchange Rate of Bangladesh Mean Reverting? A Panel Unit Root Approach

Murad

2016

Asian Economic and Financial Review

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“…As a result, the recent literature, mainly focused on industrial and large emerging economies, has moved on in two new directions. While some researchers have turned to panel unit root tests (Kuo and Mikkola, 2001; Alba and Papell, 2007; Kalyoncu and Kalyoncu, 2008; among others), others have opted for nonlinear unit root tests (Chortareas and Kapetanios, 2004; Paya and Peel, 2004; Cushman, 2008; among others).…”

Section: Introductionmentioning

confidence: 99%

Inline ultrafiltration

Teske¹,

Lebreton²,

Reis³

2010

Biotechnology Progress

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Inline ultrafiltration (UF) can significantly increase the recoverable mass of biopharmaceutical products when pool tank volumes are limiting. Using relatively small commercially available ultrafiltration cassettes, a proof-of-concept study demonstrates that inline UF can significantly increase recoverable mass in an antibody purification process. With ever-increasing cell culture titers pushing product masses to higher levels, inline UF offers a relatively easy-to-implement and less disruptive alternative to installing larger pool tanks and enables more cost-effective production utilizing facilities designed for smaller bulk sizes.

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Purchasing power parity in OECD countries: Evidence from panel unit root

Cited by 28 publications

References 40 publications

The Existence of Long-Run PPP: A Comparison between Developed and Developing Countries

The Existence of Long-Run PPP: A Comparison between Developed and Developing Countries

Is the Exchange Rate of Bangladesh Mean Reverting? A Panel Unit Root Approach

Inline ultrafiltration

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