Year: 1996
Type: article
Abstract: The theory of Purchasing Power Parity (PPP) has long held a prominent place in international economics. It states that price levels in different countries, as measured by a representative market basket of commodities, will be equalized by international trade. Empirically, however, PPP has not fared particularly well in formal statistical tests.
DOI: 10.20955/r.78.3-22
Authors: Michael R. Pakko, Patricia S. Pollard
Institution: Federal Reserve Bank of St. Louis
Language: English
Domain: Social Sciences
Open Access status: gold
OpenAlex ID: W2097345965