Su, Chi-Wei; Chang, Hsu-Ling; Zhu, Meng-Nan - In: Applied Economics 44 (2012) 25, pp. 3255-3262
This study applies stationary test with a Fourier function proposed by Enders and Lee (2004, 2009) to test the validity of long run Purchasing Power Parity (PPP) to assess the nonstationary properties of the real exchange rate for 20 African countries. We find that our approximation has higher...