Are real exchange rates stationary based on panel unit-root tests? Evidence from Pacific Basin countries

被引：0

作者：

Wu, JL ^{[1
]}

Chen, SL

机构：

[1] Natl Chung Cheng Univ, Dept Econ, Chiayi 621, Taiwan

[2] Fu Jen Catholic Univ, Dept Econ, Taipei 242, Taiwan

来源：

INTERNATIONAL JOURNAL OF FINANCE & ECONOMICS | 1999年 / 4卷 / 03期

关键词：

purchasing power parity; real exchange rates; panel unit-root tests; bootstrap; contemporaneous correlation;

D O I：

10.1002/(SICI)1099-1158(199907)4:3<243::AID-IJFE99>3.3.CO;2-R

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Recently, there have been many studies that apply the panel unit-root test of Levin and Lin (1992) to support the validity of long-run purchasing power parity (PPP) for industrial countries. This paper applies two recently developed panel unit-root tests, provided by Im ef al. (1995) and Maddala and Wu (1998), respectively, to re-examine the PPP hypothesis for eight Pacific Basin countries. The empirical evidence fails to support PPP for Pacific Basin countries. This finding is robust to different base countries and to I different subsets of the panel. Copyright (C) 1999 John Wiley & Sons, Ltd.

引用

页码：243 / 252

页数：10

共 50 条

[31] Is Chinese Real GDP per Capita Broken Stationary Panel or Unit Root? New Evidence from Provincial-based Panel
Wang Jian
Du Yonghong
[J]. RECENT ADVANCE IN STATISTICS APPLICATION AND RELATED AREAS, VOLS I AND II, 2009, : 2117 - 2122
[32] Do real exchange rates contain a unit root? Evidence from Turkish data
Tastan, H
[J]. APPLIED ECONOMICS, 2005, 37 (17) : 2037 - 2053
[33] Are real interest rates stationary? New evidence from the multivariate ARDL unit root test
Goh, Soo Khoon
Sam, Chung Yan
Goh, Kim-Leng
[J]. APPLIED ECONOMICS LETTERS, 2024,
[34] Model-selection-based unit-root detection in unemployment rates: international evidence
Fukuda, Kosei
[J]. APPLIED ECONOMICS, 2008, 40 (21) : 2785 - 2791
[35] Testing PPP for Central American real exchange rates. Evidence from new panel data stationary tests with structural breaks
Hoarau, Jean-Francois
[J]. ECONOMICS BULLETIN, 2008, 6
[36] Revisiting purchasing power parity in BRICS countries using more powerful quantile unit-root tests with stationary covariates
Peng, Hongfeng
Liu, Zhijie
Chang, Tsangyao
[J]. COMMUNICATIONS IN STATISTICS-THEORY AND METHODS, 2017, 46 (20) : 10051 - 10057
[37] Are shocks to foreign investment in developing countries permanent or temporary? Evidence from panel unit root tests
Strazicich, MC
Co, CY
Lee, JS
[J]. ECONOMICS LETTERS, 2001, 70 (03) : 405 - 412
[38] Are shocks to real effective exchange rates permanent or transitory? Evidence from Pacific Island countries
Narayan, Paresh Kumar
Prasad, Biman Chand
[J]. APPLIED ECONOMICS, 2008, 40 (08) : 1053 - 1060
[39] Is energy consumption per capita stationary? Evidence from first and second generation panel unit root tests
Shahbaz, Muhammad
Tiwari, Aviral Kumar
Khan, Saleheen
[J]. ECONOMICS BULLETIN, 2016, 36 (03): : 1656 - +
[40] Are real exchange rates nonlinear or nonstationary? Evidence from a new threshold unit root test
Basci, E
Caner, M
[J]. STUDIES IN NONLINEAR DYNAMICS AND ECONOMETRICS, 2005, 9 (04):

← 1 2 3 4 5 →