A Time-Series Approach to Test the Productivity Bias Hypothesis in Purchasing Power Parity
Most previous studies have used cross-sectional data to test the "productivity bias hypothesis." They have all failed to support the hypothesis except one. In this paper, the author reexamines the hypothesis by relying upon time-series data and cointegration technique. Out of four countries (France, Italy, Japan, and the United Kingdom) for which the cointegration approach could be applied, at least three of them (Italy, Japan, and the United Kingdom) yielded empirical results supporting the productivity bias hypothesis. Copyright 1992 by WWZ and Helbing & Lichtenhahn Verlag AG
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Volume (Year): 45 (1992)
Issue (Month): 2 ()
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