Rangkakulnuwat, Poomthan; Ahn, Sung; Wang, Holly; He, Susan - In: Applied Economics 42 (2010) 4, pp. 497-513
This article extends the theory of generalized purchasing power parity (G-PPP) by developing a model including foreign variables such as the real money supply, output and interest rate. A cointegration rank test with two structural breaks in the deterministic trend was adopted to selected Asian...