Dockery, Everton; Georgellis, Yannis - In: Applied Economics Letters 1 (1994) 6, pp. 99-101
In this paper we use cointegration techniques to test the long-run Purchasing Power Parity (PPP) hypothesis for nine Drachma exchange rates within the European currency area. The results support the long-run PPP hypothesis only in the cases of Portugal, Spain and the UK, as these countries were...