VSE knjižnice (vzajemna bibliografsko-kataložna baza podatkov COBIB.SI)
  • Purchasing power parity in Central and Eastern European economies [Elektronski vir] : new data, new tests, and not so new evidence?
    Boršič, Darja ; Kavkler, Alenka ; Bekő, Jani
    This paper evaluates the validity of PPP for a group of 12 Central and Eastern European economies with respect to dollar and euro. The database includes Bulgaria, Croatia, Czech Republic, Estonia, ... Hungary, Latvia, Lithuania, Macedonia, Poland, Romania, Slovakia and Slovenia. Overall, we are examining a heterogeneous group of countries with common history and common goals - convergence into European market and European Monetary Union. The analysis relies on the up-to-date real exchange rates data covering the periodof January 1994-July 2010 and uses a set of first generation panel unit root tests, which is based on the cross-sectional independency hypothesis. Two basic conclusions can be deducted from our research. First, the stationarity of real exchange rates in comparison to the euro is confirmed by all the tests employed in our study. Second, when using the panel with the US dollar as the numeraire currency, the PPP hypothesis is corroborated only by the results of Levin, Lin and Chu test. The presenting results provide additional piece of supporting evidence for progressive monetary integration of CEE countries with the Euro area.
    Vir: 8th International Conference Economic Integration, Competition and Cooperation, [Opatija - Croatia, April 6-9, 2011] [Elektronski vir]
    Vrsta gradiva - prispevek na konferenci
    Leto - 2011
    Jezik - angleški
    COBISS.SI-ID - 10957340

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