Bahmani-Oskooee, Mohsen; Chang, Tsangyao; Liu, Wen-Chi - In: Applied Economics Letters 21 (2014) 18, pp. 1283-1287
Since introduction of unit roots, researchers have tried to solve the purchasing power parity (PPP) puzzle or its failure by testing for stationarity of the real exchange rates. Failure to support the PPP is mostly said to be due to low power of these tests. Panel unit root testing is more...