Moosa, Imad A. - In: Journal of Economic Studies 21 (1994) 3, pp. 3-21
Present some empirical evidence on long‐run Purchasing Power Parity (PPP) using a sample of annual data covering the period 1900‐1987. Three exchange rates are used in the analysis: the dollar, yen and French franc against the pound. It is shown that PPP does hold in the long run and that is...