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PURCHASING POWER PARITY AND BLACK-MARKET EXCHANGE RATES

✍ Scribed by WILLIAM PATTON CULBERTSON JR.

Book ID
115202147
Publisher
Oxford University Press
Year
1975
Tongue
English
Weight
589 KB
Volume
13
Category
Article
ISSN
0095-2583

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Does purchasing power parity hold in eme
Does purchasing power parity hold in emerging markets? Evidence from a panel of black market exchange rates
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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