𝔖 Bobbio Scriptorium
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Does comovement among exchange rates imply market inefficiency?

✍ Scribed by John Baffes


Book ID
116101604
Publisher
Elsevier Science
Year
1994
Tongue
English
Weight
629 KB
Volume
44
Category
Article
ISSN
0165-1765

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## Abstract We examine the purchasing power parity (PPP) hypothesis using a unique panel of monthly data on black market exchange rates for 34 emerging market economies. We apply a large number of recent heterogeneous panel unit root and cointegration tests. Panel unit root tests reject mean revers