Purchasing power parity in Korean city panels with disaggregate price indices

Y. Oh and K. Han

Applied Economics Letters, 2009, vol. 16, issue 1, 45-49

Abstract: We examine whether the purchasing power parity holds between Korean major cities. We use the disaggregated consumer price index data for Korean cities including 13 tradable or nontradable goods. We apply panel unit root tests of Maddala and Wu (1999), Choi (2001) and Im et al. (2003). From the empirical result, we are able to reject the nonstationary null hypothesis for six of eight tradable goods and for two of five nontradable goods at the 10% level. Thus we could conclude that the theory holds between Korean major cities. Also, it holds more for tradable goods than nontradable goods.

Date: 2009
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DOI: 10.1080/13504850801964323

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