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Restaurant Prices and the Mexican Peso

Listed author(s):
  • Thomas M Fullerton Jr

    (University of Texas at El Paso)

  • Roberto Coronado

    (Federal Reserve Bank of Dallas)

International restaurant franchise price data are used to examine purchasing power parity and the behavior of the Mexican peso. Sample data are from El Paso, Texas and Ciudad Juarez, Mexico. A battery of statistical tests indicate that the price ratio and the exchange rate are statistically different from each other, but correlated.

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Paper provided by EconWPA in its series International Finance with number 0403004.

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Length: 17 pages
Date of creation: 04 Mar 2004
Handle: RePEc:wpa:wuwpif:0403004
Note: Type of Document - word doc; prepared on Win98; pages: 17. International restaurant franchise price data are used to examine purchasing power parity and the behavior of the Mexican peso.
Contact details of provider: Web page: http://econwpa.repec.org

References listed on IDEAS
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  1. Bhagwati, Jagdish N, 1984. "Why Are Services Cheaper in the Poor Countries?," Economic Journal, Royal Economic Society, vol. 94(374), pages 279-286, June.
  2. Heston, Alan & Summers, Robert, 1996. "International Price and Quantity Comparisons: Potentials and Pitfalls," American Economic Review, American Economic Association, vol. 86(2), pages 20-24, May.
  3. Maurice Obstfeld & Kenneth Rogoff & Ben Bernanke & Kenneth Rogoff, "undated". "The Six Major Puzzles in International Macroeconomics: Is there a Common Cause?," Working Paper 32326, Harvard University OpenScholar.
  4. Rogers, John H. & Jenkins, Michael, 1995. "Haircuts or hysteresis? Sources of movements in real exchange rates," Journal of International Economics, Elsevier, vol. 38(3-4), pages 339-360, May.
  5. Parsley, David C. & Wei, Shang-Jin, 2001. "Explaining the border effect: the role of exchange rate variability, shipping costs, and geography," Journal of International Economics, Elsevier, vol. 55(1), pages 87-105, October.
  6. Ong, Li Lian, 1997. "Burgernomics: the economics of the Big Mac standard," Journal of International Money and Finance, Elsevier, vol. 16(6), pages 865-878, December.
  7. Robert E. Cumby, 1996. "Forecasting Exchange Rates and Relative Prices with the Hamburger Standard: Is What You Want What You Get With McParity?," NBER Working Papers 5675, National Bureau of Economic Research, Inc.
  8. Engel, C. & Rogers, J.H., 1995. "How Wide is the Border?," Papers 4-95-16, Pennsylvania State - Department of Economics.
  9. Diebold, Francis X & Husted, Steven & Rush, Mark, 1991. "Real Exchange Rates under the Gold Standard," Journal of Political Economy, University of Chicago Press, vol. 99(6), pages 1252-1271, December.
  10. Thomas M. Fullerton, Jr., 1993. "Un modelo macroeconométrico para pronosticar la economía colombiana," Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 12(24), pages 101-136, Diciembre.
  11. Dallas S. Batten & Michael T. Belongia, 1986. "Monetary Policy, Real Exchange Rates, and U.S. Agricultural Exports," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 68(2), pages 422-427.
  12. Dornbusch, Rudiger, 1976. "Expectations and Exchange Rate Dynamics," Journal of Political Economy, University of Chicago Press, vol. 84(6), pages 1161-1176, December.
  13. John P. Judd, 1986. "M1 and monetary policy," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue may9.
  14. Kenneth Rogoff, 1996. "The Purchasing Power Parity Puzzle," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 647-668, June.
  15. Don P. Clark & W. Charles Sawyer & Richard L. Sprinkle, 1997. "The Value of the "Southern" Dollar," The Review of Regional Studies, Southern Regional Science Association, vol. 27(2), pages 185-193, Fall.
  16. Hakkio, Craig S. & Rush, Mark, 1991. "Cointegration: how short is the long run?," Journal of International Money and Finance, Elsevier, vol. 10(4), pages 571-581, December.
  17. Cheung, Yin-Wong & Lai, Kon S., 1994. "Mean reversion in real exchange rates," Economics Letters, Elsevier, vol. 46(3), pages 251-256, November.
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