Purchasing power parity with nonlinear and asymmetric smooth adjustment for the Middle Eastern countries

Tsangyao Chang, Yu-Shao Liu and Chi-Wei Su

Applied Economics Letters, 2012, vol. 19, issue 5, 487-491

Abstract: This empirical note uses a simple and powerful nonlinear unit root test proposed by Sollis (2009) to test the validity of Purchasing Power Parity (PPP) for Middle Eastern countries. Empirical test results indicate that PPP is valid for most of these Middle Eastern countries, with the exception of Bahrain. These results have important policy implications for the Middle Eastern countries under study.

Date: 2012
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DOI: 10.1080/13504851.2011.587756

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