Empirica – Journal of European Economics

Sponsored by the Austrian Economic Association and the Austrian Institute of Economic Research

Empirica publishes empirical and theoretical work on all economic aspects of European Integration. The topics may range from all challenges concerning the deepening of the European Union (Single Market, Lisbon Agenda, EMU) to enlargement and the external relations of the EU (globalisation).

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Jingfei Wu, Mohsen Bahmani-Oskooee, Tsangyao Chang
Revisiting purchasing power parity in G6 countries: an application of smooth time-varying cointegration approach
Empirica, 2018, 45(1), pp.187-196, http://www.springer.com/10663
This study revisits purchasing power parity (PPP) for the G6 countries (i.e., Canada, Italy, Japan, France, Germany, the UK) using the smooth time-varying cointegrating approach, proposed by Park and Hahn (Econom Theory 15:664-703, 1999). Using monthly data over the period January 1971 to December 2013, our empirical results indicate that PPP holds in two out of six countries (i.e., France and Germany).
JEL-Codes:C21 F31
Keywords:Purchasing power parity, G6 Countries, Smooth time-varying cointegration test
Research group:Macroeconomics and Public Finance
Language:English

Managing Editor

Univ.-Prof. MMag. Dr. Harald Oberhofer

Function: Senior Economist, Editor-in-Chief Empirica
Research groups: Industrial, Innovation and International Economics