Testing for nominal convergence in the Central American area: evidence from panel data unit-root tests

Hoarau, Jean-Francois, Stephane Blancard and Jean-Pierre, Philippe

Applied Economics Letters, 2009, vol. 16, issue 11, pages 1171-1174

Abstract: Inflation convergence between the Central American Area and the United States is investigated using both recent homogeneous and heterogeneous panel data unit-root methods. Strong rejections of unit-root hypothesis are found, and therefore evidence of Purchasing Power Parity, in the Central American countries for the 1981:1-2005:4 period. Then by considering the nominal convergence criterion, the dollarization system seems to be suited to this region.

Date: 2009

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