The primary purpose of this article is to conduct the Fourier Nonlinear Unit Root Test to check Purchasing Power Parity (PPP) for seven cryptocurrencies traded in seventeen countries from 2010 to 2021. The unit root test provides moderate support to the PPP hypothesis when we use each...

The findings from this study provide robust empirical evidence supporting the validity of the long-run PPP, suggesting that ASEAN-5 exchange rate adjustment is mean reversion towards PPP equilibrium values in a non-linear way