Nonlinear adjustment to purchasing power parity with flexible Fourier function in G-7 countries

This study applied the nonlinear Kapetanios <italic>et al.</italic> (2003) test with a Fourier function (capturing the smooth breaks) to test the validity of long-run Purchasing Power Parity (PPP) for G-7 countries over the period January 1994 to April 2010. The empirical results indicate that PPP holds for all the G-7 countries studied. Our results have important policy implications for the G-7 countries under study.

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Year of publication:	2012
Authors:	Chang, Tsangyao ; Su, Chi-Wei ; Lee, Chia-Hao
Published in:	Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 19.2012, 12, p. 1111-1116
Publisher:	Taylor & Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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