Gateway to Think Tanks
来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w10607 |
来源ID | Working Paper 10607 |
The Purchasing Power Parity Debate | |
Alan M. Taylor; Mark P. Taylor | |
发表日期 | 2004-07-05 |
出版年 | 2004 |
语种 | 英语 |
摘要 | Originally propounded by the sixteenth-century scholars of the University of Salamanca, the concept of purchasing power parity (PPP) was revived in the interwar period in the context of the debate concerning the appropriate level at which to re-establish international exchange rate parities. Broadly accepted as a long-run equilibrium condition in the post-war period, it was first advocated as a short-run equilibrium by many international economists in the first few years following the breakdown of the Bretton Woods system in the early 1970s and then increasingly came under attack on both theoretical and empirical grounds from the late 1970s to the mid 1990s. Accordingly, over the last three decades, a large literature has built up that examines how much the data deviated from theory, and the fruits of this research have provided a deeper understanding of how well PPP applies in both the short run and the long run. Since the mid 1990s, larger datasets and nonlinear econometric methods, in particular, have improved estimation. As deviations narrowed between real exchange rates and PPP, so did the gap narrow between theory and data, and some degree of confidence in long-run PPP began to emerge again. In this respect, the idea of long-run PPP now enjoys perhaps its strongest support in more than thirty years, a distinct reversion in economic thought. |
主题 | International Economics ; International Finance ; International Macroeconomics |
URL | https://www.nber.org/papers/w10607 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/568236 |
推荐引用方式 GB/T 7714 | Alan M. Taylor,Mark P. Taylor. The Purchasing Power Parity Debate. 2004. |
条目包含的文件 | ||||||
文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w10607.pdf(801KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
个性服务 |
推荐该条目 |
保存到收藏夹 |
导出为Endnote文件 |
谷歌学术 |
谷歌学术中相似的文章 |
[Alan M. Taylor]的文章 |
[Mark P. Taylor]的文章 |
百度学术 |
百度学术中相似的文章 |
[Alan M. Taylor]的文章 |
[Mark P. Taylor]的文章 |
必应学术 |
必应学术中相似的文章 |
[Alan M. Taylor]的文章 |
[Mark P. Taylor]的文章 |
相关权益政策 |
暂无数据 |
收藏/分享 |
除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。