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Purchasing power parity in OECD countries: Nonlinear unit root tests revisited |
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| Affiliation: | 1. University of Sheffield, United Kingdom;2. Xi''an Jiaotong-Liverpool University, China;1. Department of International Business, Tunghai University, No. 1727, Sec. 4, Taiwan Boulevard, Xitun District, Taichung 40704, Taiwan;2. Department of International Economics and Trade, Research Institute of Natural Resources, Environment & Sustainable Development, College of Economics, Jinan University, China |
| Abstract: | The aim of this paper is to provide additional evidence on the purchasing power parity empirical fulfilment in a pool of OECD countries. We apply the Harvey et al. (2008) linearity test and the Kruse (2011) nonlinear unit root test. The results point to the fact that the purchasing power parity theory holds in a greater number of countries than has been reported in previous studies. |
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