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Purchasing power parity in the 1920s: evidence for the Swiss franc

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  • Michael Bleaney

Abstract

Tests of purchasing power parity (PPP) are applied to bilateral rates against the Swiss franc for the period of floating exchange rates in the 1920s. The results confirm that the exchange rates of high-inflation currencies tended to move in line with PPP. For low-inflation currencies, however, there tended to be underadjustment of nominal exchange rates to relative price movements.

Suggested Citation

  • Michael Bleaney, 1998. "Purchasing power parity in the 1920s: evidence for the Swiss franc," Applied Economics Letters, Taylor & Francis Journals, vol. 5(4), pages 239-241.
    • Handle: RePEc:taf:apeclt:v:5:y:1998:i:4:p:239-241
    DOI: 10.1080/135048598354898
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    Cited by:

    1. Arize, Augustine C. & Malindretos, John & Nam, Kiseok, 2010. "Cointegration, dynamic structure, and the validity of purchasing power parity in African countries," International Review of Economics & Finance, Elsevier, vol. 19(4), pages 755-768, October.
    2. Dimitrios Sideris, 2006. "Purchasing Power Parity in economies in transition: evidence from Central and East European countries," Applied Financial Economics, Taylor & Francis Journals, vol. 16(1-2), pages 135-143.
    3. Arize, Augustine C. & Malindretos, John & Ghosh, Dilip, 2015. "Purchasing power parity-symmetry and proportionality: Evidence from 116 countries," International Review of Economics & Finance, Elsevier, vol. 37(C), pages 69-85.

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