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Long-run purchasing power parity with asymmetric adjustment: evidence from nine major oil-exporting countries

✍ Scribed by Tsangyao Chang; Wen-Chi Liu

Publisher: John Wiley and Sons
Year: 2008
Tongue: English
Weight: 464 KB
Volume: 15
Category: Article
ISSN: 1076-9307
DOI: 10.1002/ijfe.386

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✦ Synopsis

Abstract

In this study, we apply threshold cointegration test advanced by Enders and Siklos (2001) to investigate the properties of asymmetric adjustment in long‐run purchasing power parity (PPP) in nine major oil‐exporting countries. Although there is evidence of long‐run PPP for these nine oil‐exporting countries, the adjustment mechanism is asymmetric. These results have important policy implications for these nine oil‐exporting countries under study. Copyright © 2008 John Wiley & Sons, Ltd.

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