breaks. One is based on a single time series and the other is based on a panel of multiple series. For the estimation of the … number of breaks and their locations, a simple procedure based on outlier detection is proposed. The limiting distributions … illustrated using as an example purchasing power parity.<p> …

This paper provides evidence of long run purchasing power parity by performing a recently developed method to test for … unit roots in the presence of structural breaks. Data consist of real exchange rate series for 20 countries including … developed and developing economies. Structural breaks are detected in 18 countries and real exchange rates are found to be …

This paper provides evidence of long run purchasing power parity by performing a recently developed method to test for … unit roots in the presence of structural breaks. Data consist of real exchange rate series for 20 countries including … developed and developing economies. Structural breaks are detected in 18 countries and real exchange rates are found to be …

This paper tests the hypothesis of long-run purchasing power parity (PPP) for all Latin American countries. Those … stationarity, and unit root under multiple structural breaks indicate that the pooled real exchange rate is stationary. Thus, the …

of unit root tests in the presence of structural breaks. In this paper, we propose a simple model to describe the …

estimation and testing. More specifically, power functions are low and assume irregular shapes. Furthermore, homogeneous …This paper analyzes the properties of multivariate tests of purchasing power parity (PPP) that fail to take … on the validity of the PPP hypothesis. Our findings highlight the importance of allowing for heterogeneous estimation …

results point to the fact that the purchasing power parity theory holds in a greater number of countries than has been …The aim of this paper is to provide additional evidence on the purchasing power parity empirical fulfillment in a pool …