Does purchasing power parity hold in eme
✍
Mario Cerrato; Nicholas Sarantis
📂
Article
📅
2007
🏛
John Wiley and Sons
🌐
English
⚖ 181 KB
## 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