Cheng, Su-Yin; Wei, Jong-Shin; Hou, Han - In: International Journal of Business and Economics 7 (2008) 3, pp. 199-211
This paper examines purchasing power parity (PPP) for 61 countries using the panel cointegration method developed by Westerlund (2007). After controlling for cross-sectional dependence, the results show that weak PPP is stronger for Latin American countries and for countries with moderate...