We study the long-run relationship of real exchanges rates (RERs) among the ASEAN-5 countries by testing the theory of Generalized Purchasing Power Parity (G-PPP) from the new perspective of fractional cointegration. The long-run co-movements of the RERs are examined by applying a recent...

In this paper we propose the use of an alternative methodology to track low incomes based on Atkinson`s (1970) family of equally distributed equivalent income functions, which are called general means here. We provide a new characterization of general means that justifies their use in this...