Type of Document Master's Thesis Author Speed, Preston Brooks URN etd-01292009-063028 Title Tests of purchasing power parity Degree Master of Arts Department Economics Advisory Committee
Advisor Name Title Wentzler, N. Committee Chair Porter, R. Committee Member Reid, B. Committee Member Keywords
- exchange rates
- unit roots
Date of Defense 1996-04-01 Availability unrestricted AbstractTHIS PAPER EXAMINES THE LONG-RUN RELATIONSHIP BETWEEN
EXCHANGE RATES AND PRICES IN TEN COUNTRIES IN SOUTHWEST ASIA,
AFRICA, AND THE PACIFIC RIM FOR THE POST-BRETTON WOODS PERIOD.
IT USES COINTEGRA TION TESTS TO INVESTIGATE THE THESIS THAT
RELATIVE PURCHASING POWER PARITY EXISTS AS A LONG-RUN
EQUILIBRIUM CONDITION BETWEEN COUNTRY- PAIRS. IT EXPANDS UPON
TESTS FOR RELATIVE PURCHASING POWER PARITY SUGGESTED BY
PREVIOUS AUTHORS BY PRETESTING PRICE INDEX TIME SERIES FOR
STRUCTURAL BREAKS, IN ADDITION TO PRETESTING THE PRICE INDICES
AND EXCHANGE RA TES FOR COMPATIBLE STOCHASTIC PROPERTIES. IT
COMPARES THE RESULTS OF CONVENTIONAL COINTEGRATION TESTS FOR
PARITY WITH A WEAKER FORM OF THE RELATIONS HIP SUGGESTED BY
PIPPENGER (1993) AND PATEL (1990), AND FINALLY, EXAMINES
PURCHASING POWER PARITY BY TESTING REAL BILATERAL EXCHANGE
RATES FOR STATIONARITY.
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