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A Time-Series Approach to Test the Productivity Bias Hypothesis in Purchasing Power Parity

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  • Bahmani-Oskooee, Mohsen

Abstract

Most previous studies have used cross-sectional data to test the "productivity bias hypothesis." They have all failed to support the hypothesis except one. In this paper, the author reexamines the hypothesis by relying upon time-series data and cointegration technique. Out of four countries (France, Italy, Japan, and the United Kingdom) for which the cointegration approach could be applied, at least three of them (Italy, Japan, and the United Kingdom) yielded empirical results supporting the productivity bias hypothesis. Copyright 1992 by WWZ and Helbing & Lichtenhahn Verlag AG

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Kyklos.

Volume (Year): 45 (1992)
Issue (Month): 2 ()
Pages: 227-36

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Handle: RePEc:bla:kyklos:v:45:y:1992:i:2:p:227-36

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Cited by:
  1. Bahmani-Oskooee, Mohsen & Gelan, Abera, 2006. "Black market exchange rate and the productivity bias hypothesis," Economics Letters, Elsevier, vol. 91(2), pages 243-249, May.
  2. Josip Tica & Ivo Družić, 2006. "The Harrod-Balassa-Samuelson Effect: A Survey of Empirical Evidence," EFZG Working Papers Series 0607, Faculty of Economics and Business, University of Zagreb.
  3. Lee, Daniel Y., 1999. "Purchasing power parity and dynamic error correction: Evidence from Asia Pacific economies," International Review of Economics & Finance, Elsevier, vol. 8(2), pages 199-212, June.
  4. Bob Beachill & Geoff Pugh, 1998. "Monetary Cooperation in Europe and the Problem of Differential Productivity Growth: an argument for a 'two-speed' Europe," International Review of Applied Economics, Taylor & Francis Journals, vol. 12(3), pages 445-457.
  5. Agnes Benassy-Quere & Dramane Coulibaly, 2013. "The Impact of Market Regulations on Intra-European Real Exchange Rates," CESifo Working Paper Series 4082, CESifo Group Munich.
  6. repec:hal:journl:halshs-00786095 is not listed on IDEAS
  7. Razzaque H. Bhatti, 1997. "Do Expectations Play Any Role in Determining Pak Rupee Exchange Rates?," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 36(3), pages 263-273.
  8. Imed Drine & Christophe Rault, 2005. "Can the Balassa-Samuelson theory explain long-run real exchange rate movements in OECD countries?," Applied Financial Economics, Taylor & Francis Journals, vol. 15(8), pages 519-530.
  9. Drine, I. & Rault, Ch., 2004. "Does the Balassa-Samuelson Hypothesis Hold for Asian Countries?. An Empirical Analysis using Panel Data and Cointegration Tests," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 4(4).
  10. Josheski, Dushko & Lazarov, Darko & Fotov, Risto & Koteski, Cane, 2011. "IS-LM model for US economy: testing in JMULTI," MPRA Paper 34024, University Library of Munich, Germany.
  11. Agnès Bénassy-Quéré & Dramane Coulibaly, 2013. "The Impact of Market Regulations on Intra-European Real Exchange Rates," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00786095, HAL.
  12. Agnès Bénassy-Quéré & Dramane COULIBALY, 2014. "The Impact of Market Regulations on Intra-European Real Exchange Rates," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00961713, HAL.
  13. Ahmad, Sultan, 1992. "Regression estimates of per capital gross domestic product based on purchasing power parities," Policy Research Working Paper Series 956, The World Bank.

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