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Analysis of Purchasing power parity with data for Macedonia

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  • Josheski, Dushko
  • Koteski, Cane

Abstract

This paper examines PPP parity theory with data for Macedonia. We test the empirical consensus in this literature that real exchange rates tend towards PPP in the very long run, also we use co-integration Engle-Granger method and error correction mechanism. The hypothesis we test that PPP theory holds in long run in the case of Macedonia, and this hypothesis is proven to be true.

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File URL: http://mpra.ub.uni-muenchen.de/32023/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 32023.

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Date of creation: 01 Jun 2011
Date of revision: 2011
Handle: RePEc:pra:mprapa:32023

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Keywords: PPP; Exchange rate; Co-integration; unit root; stationarity;

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  1. Bogoev, Jane & Bojceva Terzijan, Sultanija & Égert, Balázs & Petrovska, Magdalena, 2008. "Real Exchange Rate Dynamics in Macedonia: Old Wisdoms and New Insights," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 2(18), pages 1-19.
  2. Robin Brooks & Kenneth Rogoff & Ashoka Mody & Nienke Oomes & Aasim M. Husain, 2004. "Evolution and Performance of Exchange Rate Regimes," IMF Occasional Papers 229, International Monetary Fund.
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