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Purchasing Power Parity in East Asia: Why all the Fuss?

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  • Louise Allsopp

    ()
    (School of Economics, University of Adelaide, Australia)

  • Ralf Zurbruegg

    ()
    (School of Commerce, University of Adelaide, Australia)

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    Abstract

    Purchasing Power Parity (PPP) literature is now vast with literally hundreds of papers offering tests for PPP across a broad number of countries. However, despite all the elaborate techniques employed, very little explanation is given as to why PPP is so relevant1 in policy making. This paper provides a basic understanding of PPP and shows why it is considered so important when making policy choices. The discussion is focused on the Asian economies since these have been subject to intense scrutiny following the 1997 crisis, particularly with regard to their choice of exchange rate regime and possible monetary unification.

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    File URL: http://www.adelaide.edu.au/cies/papers/0304.pdf
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    Bibliographic Info

    Paper provided by University of Adelaide, Centre for International Economic Studies in its series Centre for International Economic Studies Working Papers with number 2003-04.

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    Length: 14 pages
    Date of creation: Mar 2003
    Date of revision:
    Handle: RePEc:adl:cieswp:2003-04

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    Keywords: Exchange Rates Regimes; Purchasing Power Parity;

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    1. Kaminsky, Graciela L & Reinhart, Carmen M, 1998. "Financial Crises in Asia and Latin America: Then and Now," American Economic Review, American Economic Association, vol. 88(2), pages 444-48, May.
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