Purchasing Power Parity in the Long Run: A Test of the Dollar/Pound Exchange Rate (1890-1978)
This paper tests the Purchasing Power Parity (PPP) hypothesis by analyzing t he long-run tendency of the dollar/pound exchange rate using data sin ce 1890. Two different models are considered: (1) a na ive model and (2) a modified monetary model. The conditions of propor tionality and symmetry cannot be rejected when using the naive model. The final results using the monetary model, however, indicate that t he existence of permanent deviations from PPP cannot be ruled out. Copyright 1987 by Ohio State University Press.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 19 (1987)
Issue (Month): 3 (August)
|Contact details of provider:|| Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879 |
When requesting a correction, please mention this item's handle: RePEc:mcb:jmoncb:v:19:y:1987:i:3:p:376-87. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.