Fullerton Jr., Thomas M.; Fierro, Karen P.; Villalobos, … - In: The North American Journal of Economics and Finance 20 (2009) 3, pp. 281-288
Purchasing power parity suggests that international price ratios for identical goods should approximate nominal exchange rates for the currencies in which the prices are denominated. Deviations of the price ratios from exchange rates can occur for a number of reasons and mixed evidence has been...