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El principio de paridad del poder de compra en America Latina: un analisis con cambio estructural

Author

Listed:
  • Domingo Rodriguez Benavides

    (Instituto Politecnico Nacional)

  • Ignacio Perrotini Hernandez

    (UNAM)

  • Jesus Santamaria Gonzalez

    (Comision Economica para America Latina y el Caribe.)

Abstract

Sometemos a prueba la hipotesis del principio de paridad del poder adquisitivo (PPP) que sostiene que el tipo de cambio real es estacionario alrededor de una media cambiante, conocida como Quasi-Qualified-PPP. Con datos de 17 paises de America Latina, aplicamos pruebas de raices unitarias en panel con rupturas estructurales en la media de las series. Adicionalmente, obtenemos estimaciones insesgadas de la vida media (half-life) de la convergencia del PPP en el panel de datos considerado, las cuales corrigen en forma simultanea los sesgos inducidos por i) la inapropiada agregacion de seccion cruzada de coeficientes heterogeneos; ii) la estimacion en muestras pequenas de coeficientes de rezagos dinamicos y iii) la agregacion temporal de los precios de los productos basicos. Los resultados verifican el cumplimiento de la Quasi-Qualified-PPP y muestran que la vida media es de aproximadamente 4 anos con un intervalo de confianza del 95% de 2.7-6.8 anos.

Suggested Citation

  • Domingo Rodriguez Benavides & Ignacio Perrotini Hernandez & Jesus Santamaria Gonzalez, 2016. "El principio de paridad del poder de compra en America Latina: un analisis con cambio estructural," EconoQuantum, Revista de Economia y Finanzas, Universidad de Guadalajara, Centro Universitario de Ciencias Economico Administrativas, Departamento de Metodos Cuantitativos y Maestria en Economia., vol. 13(1), pages 159-178, Enero-Jun.
    • Handle: RePEc:qua:journl:v:13:y:2016:i:1:p:159-178
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    References listed on IDEAS

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    More about this item

    Keywords

    Paridad de poder de compra; pruebas de raices unitarias en panel con rupturas; America Latina.;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • N26 - Economic History - - Financial Markets and Institutions - - - Latin America; Caribbean

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