지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
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연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
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This paper focuses on a study of purchasing power parity. There have been arguments for whether a long run PPP holds or not. First, this paper empirically shows that a long run PPP is actually held between Korea and US. Second, we attempt to detect a break point of a long-run PPP since a structural change is highly suspected to exist in a long-run equilibrium since the disastrous financial crisis damaged the Asian economy around 1997. In fact, we can detect a structural change on the basis of the methodology of Seo (1998). After estimation, a break point is found in a long run relationship between nominal exchange rate and price levels of both countries. Thus, our conclusion should be that the financial crisis affected a long run PPP.
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참고문헌 (19)
참고문헌 신청
Akram, Q. Farooq / 2006 / PPP in the medium run: The case of Norway / Journal of Macroeconomics 28 : 700 ~ 719
Cheung, Yin-Wong / 2000 / On the Purchasing Power Parity Puzzle / Journal of International Economics 52 (2) : 321 ~ 330
Crowder, William J / 1996 / A Re-examination of Long-Run PPP : The case of the UK, and the US / Review of International Economics 4 (1) : 64 ~ 78
Dickey, D. A. / 1979 / Distribution of the Estimators for Autoregressive Time Series with a Unit Root / Journal of the American Statistical Association 74 : 427 ~ 421
Diebold, Francis X / 1991 / Real Exchange Rates under the Gold Standard / Journal of Political Economy 99 (6) : 1252 ~ 1271
Cheung, Yin-Wong / 2000 / On the Purchasing Power Parity Puzzle / Journal of International Economics 52 (2) : 321 ~ 330
Crowder, William J / 1996 / A Re-examination of Long-Run PPP : The case of the UK, and the US / Review of International Economics 4 (1) : 64 ~ 78
Dickey, D. A. / 1979 / Distribution of the Estimators for Autoregressive Time Series with a Unit Root / Journal of the American Statistical Association 74 : 427 ~ 421
Diebold, Francis X / 1991 / Real Exchange Rates under the Gold Standard / Journal of Political Economy 99 (6) : 1252 ~ 1271
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