CERRATO, MARIO; KELLARD, NEIL; SARANTIS, NICHOLAS - In: Manchester School 76 (2008) 4, pp. 405-423
In this paper we analyse the purchasing power parity (PPP) persistence puzzle using a unique data set of black market real exchange rates for 36 emerging market economies and (exact and approximate) median unbiased univariate and panel estimation methods. We construct bootstrap confidence...