Purchasing power parity with nonlinear and asymmetric smooth adjustment

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	Purchasing power parity with nonlinear and asymmetric smooth adjustment
	Chang, Tsangyao ; Su, Chi-Wei ; Liu, Yu-Shao ; Su ZW(苏志伟)
刊名	http://dx.doi.org/10.1080/13504851.2011.587768
	2012
关键词	REAL EXCHANGE-RATES MEAN-REVERSION UNIT-ROOT
英文摘要	This empirical note applies a simple and powerful nonlinear unit root proposed by Sollis (2009) to test the validity of long-run Purchasing Power Parity (PPP) for Japan's Real Exchange Rate (RER) vis-a-vis its eight trading partner countries. The empirical results indicate that PPP holds for Japan relative to her major trading partners, with the exception of Hong Kong and Thailand, and the adjustment towards PPP is nonlinear and in an asymmetric way. This result provides support for PPP for Japan relative to its major trading partner countries.
语种	英语
出版者	APPL ECON LETT
内容类型	期刊论文
源URL	[http://dspace.xmu.edu.cn/handle/2288/90078]
专题	经济学院－已发表论文
推荐引用方式 GB/T 7714	Chang, Tsangyao,Su, Chi-Wei,Liu, Yu-Shao,et al. Purchasing power parity with nonlinear and asymmetric smooth adjustment[J]. http://dx.doi.org/10.1080/13504851.2011.587768,2012.
APA	Chang, Tsangyao,Su, Chi-Wei,Liu, Yu-Shao,&苏志伟.(2012).Purchasing power parity with nonlinear and asymmetric smooth adjustment.http://dx.doi.org/10.1080/13504851.2011.587768.
MLA	Chang, Tsangyao,et al."Purchasing power parity with nonlinear and asymmetric smooth adjustment".http://dx.doi.org/10.1080/13504851.2011.587768 (2012).