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PPP in Central and Eastern European economies: further evidence from panel unit root tests

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  • Alenka Kavkler
  • Darja Boršič
  • Jani Bekő

Abstract

The question of the validity of the Purchasing Power Parity (PPP) hypothesis in European transition countries remains relevant and empirically unsettled. This article aims to contribute to this debate by using an updated monthly database on real exchange rates for 12 Central and Eastern European economies. We implemented a range of panel unit root tests characterized by the rejection of the cross-sectional independence hypothesis and taking the US Dollar (USD) and the euro as numeraire currencies separately into account in the testing procedures. The results reported in this study provide additional evidence supporting the PPP proposition.

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  • Alenka Kavkler & Darja Boršič & Jani Bekő, 2012. "PPP in Central and Eastern European economies: further evidence from panel unit root tests," Applied Economics Letters, Taylor & Francis Journals, vol. 19(16), pages 1543-1548, November.
    • Handle: RePEc:taf:apeclt:v:19:y:2012:i:16:p:1543-1548
    DOI: 10.1080/13504851.2011.637891
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    Cited by:

    1. Gheorghe Savoiu & Marian Siminica, 2016. "Disparities, Discrepancies and Specific Concentration – Diversification Trends in the Group of Central and East European Ex-Socialist Countries," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 18(43), pages 503-503, August.

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