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Exchange Rate Misalignment : A New Test of Long-Run PPP Based on Cross-Country Data
http://hdl.handle.net/2261/2593
http://hdl.handle.net/2261/25932d465d1c-29a8-4337-a805-21c365cbdb17
| Item type | テクニカルレポート / Technical Report(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2013-06-03 | |||||
| タイトル | ||||||
| タイトル | Exchange Rate Misalignment : A New Test of Long-Run PPP Based on Cross-Country Data | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Purchasing Power Parity | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Country Specificity of Exchange Rate Misalignment | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Misalignment and Growth | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Country-specific Real Exchange Rates | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | The Ricardo-Samuelson-Balassa Effect | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL Classification Numbers: F31 | |||||
| 資源タイプ | ||||||
| 資源 | http://purl.org/coar/resource_type/c_18gh | |||||
| タイプ | technical report | |||||
| アクセス権 | ||||||
| アクセス権 | metadata only access | |||||
| アクセス権URI | http://purl.org/coar/access_right/c_14cb | |||||
| 著者 |
Yotopoulos, Pan A.
× Yotopoulos, Pan A.× Sawada, Yasuyuki |
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| 著者所属 | ||||||
| 著者所属 | University of Florence | |||||
| 著者所属 | ||||||
| 著者所属 | Stanford University | |||||
| 著者所属 | ||||||
| 著者所属 | University of Tokyo | |||||
| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | We formulate and implement a new empirical procedure to examine the validity of PPP in the long-run for 153 countries by using the familiar cross-country data set of Heston, Summers, and Aten (2002). Unlike the existing studies that rely on mean reversion of real exchange rates, we explicitly examine country-specificity in the deviations of the nominal exchange rate from PPP. We find, first, that out of a total of 153 countries, 132 countries have achieved PPP within twenty years, 1980-2000 and 105 countries have attained PPP over ten years, 1990-2000. Second, according to the results, our method can be accepted as a workable shortcut of the direct, fullinformation approach of Yotopoulos (1996) that tests for long-run PPP utilizing micro-ICP data. This becomes an important characteristic of this paper since comprehensive micro-ICP data are no longer easily available. As a by-product, of the empirical validation of our shortcut approach, our empirical results are in favor of the Ricardo-Balassa-Samuelson effect. | |||||
| 内容記述 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | 本文フィルはリンク先を参照のこと | |||||
| 書誌情報 |
Discussion paper series. CIRJE-F 巻 CIRJE-F-318, 発行日 2005-02 |
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| 書誌レコードID | ||||||
| 収録物識別子タイプ | NCID | |||||
| 収録物識別子 | AA11450569 | |||||
| フォーマット | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | application/pdf | |||||
| 日本十進分類法 | ||||||
| 主題Scheme | NDC | |||||
| 主題 | 330 | |||||
| 出版者 | ||||||
| 出版者 | 日本経済国際共同センター | |||||
| 出版者別名 | ||||||
| Center for International Research on the Japanese Economy | ||||||
| 関係URI | ||||||
| 識別子タイプ | URI | |||||
| 関連識別子 | http://www.cirje.e.u-tokyo.ac.jp/research/dp/2005/2005cf318ab.html | |||||
