Long-run purchasing power parity (LRPPP), the basis of most open economy macroeconomic models, has proved difficult to back up empirically. However, there is one standout exception to the otherwise mixed results. are consistently cited as having found strong evidence of LRPPP by using a...

The unit root hypothesis for international real GDP and real GDP per capita has been the subject of extensive investigation. Using panel methods that incorporate structural change, we reject the unit root null in favor of the alternative of trend stationarity, with one or two changes in the...