Problems faced by empirical studies of the purchasing power parity (PPP) hypothesis are: the choice between a multilateral and a bilateral approach, the choice of the appropriate price index and the problem of simultaneous determination of prices and exchange rates. In the present paper, we analyze the implications that these problems have, while testing for the PPP doctrine between Greece and its three major trading partners during the recent floating exchange rate period. Long-run PPP is tested as an exchange rate-pricecointegrating relationship by applying a multivariate maximum likelihood procedure, using two alternative price measures.
Download Info
To our knowledge, this item is not available for
download. To find whether it is available, there are three
options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page
whether it is in fact available.
3. Perform a search for a similarly titled item that would be
available.
Publisher Info
Paper provided by European University Institute in its series Economics Working Papers with number
eco97/18.
Length: 55 pages Date of creation: 1997 Date of revision: Handle: RePEc:eui:euiwps:eco97/18
Contact details of provider: Postal: Badia Fiesolana, Via dei Roccettini, 9, 50016 San Domenico di Fiesole (FI) Italy Phone: +39-055-4685.982 Fax: +39-055-4685.902 Web page: http://www.eui.eu/ECO/ More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Marcia Gastaldo).
Find related papers by JEL classification: F1 - International Economics - - Trade F31 - International Economics - - International Finance - - - Foreign Exchange
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)