Zhou, Su; Kutan, Ali M. - In: Applied Economics 46 (2014) 10, pp. 1150-1159
This article examines and solves an interesting paradox in the literature that the tests for purchasing power parity (PPP) based on the yen real exchange rates (RERs) refute the PPP hypothesis more often than those with other major currency-based RERs, and the evidence is sensitive to the sample...