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来源类型Working Paper
规范类型报告
DOI10.3386/w11607
来源IDWorking Paper 11607
\"Aggregation Bias\" DOES Explain the PPP Puzzle
Jean Imbs; Haroon Mumtaz; Morten O. Ravn; Hélène Rey
发表日期2005-09-12
出版年2005
语种英语
摘要This article summarizes our views on the role of an "aggregation bias" in explaining the PPP Puzzle, in response to the several papers recently written in reaction to our initial contribution. We discuss in particular the criticisms of Imbs, Mumtaz, Ravn and Rey (2002) presented in Chen and Engel (2005). We show that their contentions are based on: (i) analytical counter-examples which are not empirically relevant; (ii) simulation results minimizing the extent of "aggregation bias"; (iii) unfounded claims on the impact of measurement errors on our results; and (iv) problematic implementation of small-sample bias corrections. We conclude, as in our original paper, that "aggregation bias" goes a long way towards explaining the PPP puzzle.
主题Econometrics ; Estimation Methods ; International Economics ; International Finance ; Trade
URLhttps://www.nber.org/papers/w11607
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/569252
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Jean Imbs,Haroon Mumtaz,Morten O. Ravn,et al. \"Aggregation Bias\" DOES Explain the PPP Puzzle. 2005.
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