Does Purchasing Power Parity Hypothesis Hold for Latin American Countries?

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Çukurova Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
Volume:20 Issue:2
Does Purchasing Power Parity Hypothesis Hold for Latin American Countries?

Does Purchasing Power Parity Hypothesis Hold for Latin American Countries?

Authors : Harun BAL, Müge MANGA, Esra BALLI, Mehmet Akif DESTEK

Pages : 167-177

View : 26 | Download : 12

Publication Date : 2016-12-30

Article Type : Research Paper

Abstract :This paper investigates the validity of Purchasing Power Parity utilizing Fourier unit root tests for the period of 2000m1-2015m2 for Brazil, Chile, Colombia and Mexico. The findings show that the Purchasing Power Parity is valid in Brazil and Colombia in case of considering structural breaks. Additionally, Purchasing Power Parity holds for all countries in case of structural breaks and nonlinearity.
Keywords : Purchasing power parity hypothesis, Structural breaks, Fourier series

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