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Keywords:Purchasing power 

Journal Article
Real wages in the 1980s

FRBSF Economic Letter

Journal Article
Income: up or down?

FRBSF Economic Letter

Working Paper
Understanding the empirical literature on purchasing power parity: the post-Bretton Woods era

International Finance Discussion Papers , Paper 465

Working Paper
Intra-national, intra-continental, and intra-planetary PPP

This paper presents a general framework to address several issues that have arisen in recent work that investigates purchasing power parity (PPP) and other inter-regional relative price movements: (1) How can we model real exchange rate movements in a consistent manner, so that our model for the real exchange rate for country B relative to country C is commensurate with our models for country A/ country B and country A/ country C real exchange rates? For example, can things be modeled so that our tests do not depend on the "base country"? (2) How should we handle correlation across real ...
International Finance Discussion Papers , Paper 589

Working Paper
Purchasing power parity and uncovered interest rate parity: the United States 1974-1990

This paper examines the factors behind long-run movements of the dollar. Most recent work has concluded that structural exchange rate models explain only a small proportion of exchange rate movements. However, many economists still find the theory that links exchange rates and interest rates persuasive. We investigate the relationship between exchange rates, prices, and interest rates using multivariate maximum likelihood cointegration tests. In particular, we explicitly test for purchasing power parity and uncovered interest rate parity when using nominal exchange rates, and implicitly test ...
International Finance Discussion Papers , Paper 425

Journal Article
Is purchasing power parity a useful guide to the dollar?

Economic Review , Volume 77 , Issue Q III , Pages 37-51

Journal Article
Purchasing power parity within the United States

Economics has many articles of faith. One of the most dearly held is Purchasing Power Parity, which posits that the price of the same good in different regions should be equivalent when no barriers to arbitrage exist. Because Purchasing Power Parity (PPP) is an important assumption in much of international economic theory, this article examines empirical evidence testing this proposition. ; Instead of analyzing international data, this study analyzes PPP between regions of the United States. By comparing regions within a country, it eliminates many of the hypotheses offered to explain the ...
New England Economic Review , Issue Jul , Pages 15-24

Journal Article
Falling off the fiscal cliff

Some suggest the best alternative strategy may be to combine short-term spending with longer-term fiscal consolidation?though such a strategy may be easier said than done.
Economic Letter , Volume 7

Journal Article
For here or to go? Purchasing power parity and the Big Mac

Review , Volume 78 , Issue Jan , Pages 3-22

Journal Article
Hypothesis testing with near-unit roots: the case of long-run purchasing-power parity

Review , Issue Jul , Pages 37-48

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