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Paridad del Poder Adquisitivo en el Tipo de Cambio Argentino (Peso/Dólar)

Author

Listed:
  • Néstor Adrián Le Clech

    (Universidad Nacional de Quilmes. Departamento de Ciencias Sociales.)

Abstract

The article develops for the Argentine case the model of the determination of the exchange rate known as “Purchasing Power Parity” (PPP), adopting as reference the exchange rate with the US dollar. The PPP hypothesis is analyzed utilizing annual data from 1948 through 2006. A bivariate and trivariate model of cointegration is employed, and an error correction mechanism is used in order to estimate the adjustment velocity towards PPP. Positive evidence is found favorable to cointegration and we verify the PPP hypothesis in its absolute version. Moreover, we note that the average velocity of adjustment is around 3 years.

Suggested Citation

  • Néstor Adrián Le Clech, 2007. "Paridad del Poder Adquisitivo en el Tipo de Cambio Argentino (Peso/Dólar)," Económica, Instituto de Investigaciones Económicas, Facultad de Ciencias Económicas, Universidad Nacional de La Plata, vol. 0(1-2), pages 101-125, January-D.
    • Handle: RePEc:akh:journl:558
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    File URL: https://revistas.unlp.edu.ar/Economica/article/view/5498/4503
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    Keywords

    PPP; PPP Argentine; Purchasing Power Parity; Equilibrium Excange Rate;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange

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