Testing purchasing power parity in the presence of transaction costs

Michael Pippenger () and John Geppert

Applied Economics Letters, 1997, vol. 4, issue 10, 611-614

Abstract: This paper examines long-run purchasing power parity (PPP) using a new formulation of PPP in the presence of transaction costs. Our results strongly support the proposition that PPP holds as a long-run equilibrium condition.

Date: 1997
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DOI: 10.1080/758533284

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