Purchasing power parity versus the EU in the Mediterranean countries

Reference:

Camarero, M., Cuestas, J. C. and Ordóñez, J., 2006. Purchasing power parity versus the EU in the Mediterranean countries. Applied Financial Economics, 16 (1-2), pp. 157-167.

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Official URL:

http://dx.doi.org/10.1080/09603100500390620

Abstract

This study applies a group of unit root and stationarity tests to study the hypothesis of Purchasing Power Parity in ten Mediterranean countries. The real effective exchange rate with the European Union turns out to be stationary for five of the countries analysed, once the presence of structural changes and nonlinearities are accounted for.

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