PURCHASING POWER PARITY IN THE 1920S: A REASSESSMENT USING EFFICIENT UNIT ROOT TESTS

Öz

PURCHASING POWER PARITY IN THE 1920S: A REASSESSMENT USING EFFICIENT UNIT ROOT TESTS

Öz

1990’larda ekonomistlerin taşıdığı inanış “satınalma gücü paritesi sadece uzun dönemde geçerli olan bir teoridir” şeklindeydi. Bu görüş uluslararası iktisat literatürün önemli bir teorisi olan satınalma gücü paritesine olan ilgiyi belirli ölçüde azalttı. Ancak son bir kaç yılda yapılan araştırmalar ve yayınlar satınalma gücü paritesinin kısa dönemde de geçerli olabileceğini (en azından gelişmiş ülkelerde) 1973 ’ten beri uygulamada olan dalgalı kur rejimi için göstermektedir. Bu sonuca değişik bir döneme uygulayarak genelleştirmek mümkün olabilir mi? Bu çalışma yeni geliştirilmiş tekdeğişimli verimli birim kök testleri kullanarak satınalma gücü paritesinin gerçek bir dalgalı kar rejimi olan 1920’lerde ve daha kısa bir dönem için doğruluğunu göstermektedir.

Anahtar Kelimeler

• Satınalma gücü,Satınalma,Birim kök testi

Kaynakça

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