Příčiny odchylek nominálních kurzů od absolutní parity kupní síly v tranzitivních ekonomikách

Causes of Deviations in Nominal Exchange Rates from Absolute Purchasing Power Parityin Transition Economies

Viktar Dudzich

Politická ekonomie, 2020, vol. 2020, issue 2, 194-212

Abstract: This paper deals with the absolute version of purchasing power parity and its applicability in transition economies. The aim of the paper is to identify and quantify deviations between nominal exchange rates and rates based on purchasing power parity. The paper specifies and analyses the theoretical causes of those deviations and focuses on the impact of prices of non-tradable goods on purchasing power parity. Parity exchange rates based on prices of tradable-only goods are then calculated for 20 transition economies. Panel regression instruments are used to analyse the influence of selected macroeconomic and institutional variables on deviations between nominal exchange rates and rates based on purchasing power parity.

Keywords: purchasing power parity; transition economies; non-tradable goods; transaction costs (search for similar items in EconPapers)
JEL-codes: E31 F31 P22 P24 (search for similar items in EconPapers)
Date: 2020
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DOI: 10.18267/j.polek.1273

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