Qayyum, Abdul; Khan, Muhammad Arshad; Khair-U-Zaman - In: The Pakistan Development Review 43 (2004) 4, pp. 721-735
This paper examines the validity of the purchasing power parity to evaluate whether the Pakrupee vis-à-vis the US-dollar has been overvalued since the introduction of managed floating exchange rate. The Johansen multivariate cointegration technique is applied for the period 1982Q2-2002Q4. A...