Dissertation on purchasing power parity

Dissertation on purchasing power parity

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Dissertation On Purchasing Power Parity

This dissertation examines long-run purchasing power parity PPP between the United States and other competing countries and regions using monthly data from to Mainstream methods of PPP test and most influential researches are reviewed. Three methods of PPP testing — Unit Root Test, Cointegration Test, Panel Unit Root Test have been applied in this dissertation on purchasing power parity. We identify that PPP holds between the US and a certain number of countries by analysing the test results.

Also, the results of PPP test between the US and its top 10 trading partners have been specifically investigated and elaborated. This dissertation highlights that both the Multivariable co-integration tests and the bivariable Cointegration tests are applied in order to find out the effect of prior restrictions on the results. Then, this chapter examines whether the PPP holds between the US and its top 10 trading partners countries minus China with the panel unit root test.

Finally, in the sixth chapter, this paper concludes that PPP holds in 41 countries out of countries, and among the US top 10 trading partners, only China, Canada and India do not have solid evidence supporting PPP. The purchasing power parity PPP dissertation on purchasing power parity, as one of the most influential economic theories, has been widely used in macroeconomic analysis.

It states that the price of the same commodity or a basket of products in dissertation on purchasing power parity countries should be proportional to the exchange rate between the two countries. The exchange rate is dissertation on purchasing power parity to the economic development of a country, not only because it affects the volume of imports and exports between countries, but also because it is highly correlated with other economic indicators, such as GDP and interest rate.

Therefore, it is necessary to study the PPP theory to determine the equilibrium exchange rate as well as assist governments in adjusting exchange rates based on empirical evidence.

This dissertation will be structured in the following way. In chapter 1, this paper introduces the definition of purchasing power parity and then explains the significance of PPP studying. A brief history of the stages of the PPP study is also covered in this chapter. The second chapter is the literature review. It reviews the origin and evolution of PPP theory and common test methods. Sample testing results using different methods are also discussed dissertation on purchasing power parity this dissertation and they also give us a broad view of PPP tests conducted for various countries using data from different time spans, dissertation on purchasing power parity.

In the meantime, critiques and strengths of each test method are covered to provide a comprehensive view of each PPP test method. Besides, previous studies on the US are reviewed as well.

In the third chapter, this paper presents a series of econometric methods and models to be used in this thesis, including unit root test, cointegration test and panel unit root test.

In the fourth chapter, it explains the data source in detail. For EU countries that miss data due to the adoption of EUR, this paper also describes how the equivalent data is generated to fill the holes. The fifth chapter is the empirical analysis. This chapter first plots the real exchange rate for the US and its top 10 trading partners, and by presenting the graphs, the trend will be analysed.

In general, the purchasing power parity PPP theory works miserably when applied to real-world data, dissertation on purchasing power parity. In other words, it is rare for the PPP relationship to hold true between any two countries at any particular point in time.

In most scientific disciplines, the failure of a theory to be supported by the data means the theory is refuted and should be thrown out or tossed away. However, economists have been reluctant to do that with the PPP theory. In part this is because the logic of the theory seems particularly sound. Chapter 3 — Empirical Framework Tests for a Unit Root in the Real Exchange Rate Cointegration Test Panel Unit Root Test.

Comparative Analysis into Purchasing Power Parity PPP Dissertation. Economics Dissertation Topics. Circular Flow Model Economics. Did you find any useful knowledge relating to purchasing power parity in this post? What are the key facts that grabbed your attention?

Let us know in the comments. Thank you. View all posts by Steve Jones. Your email address will not be published. Skip to content. Sharing Is Caring - Please Share This Post. Purchasing Power Parity Dissertation. Comparative Analysis into Purchasing Power Parity PPP — Assessment of the United States and Competing Economies. Steve Jones. Published by. Leave a Reply Cancel reply Connect with:. Previous Previous post: Contactless Payments Economics Dissertation, dissertation on purchasing power parity.

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Relative Purchasing Power Parity (PPP): Explanation and Examples

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Apr 23,  · Purchasing Power Parity Dissertation. This dissertation examines long-run purchasing power parity (PPP) between the United States and other competing countries and regions using monthly data from to Mainstream methods of PPP test and most influential researches are reviewed Dissertation On Purchasing Power Parity. either way, we’ll be able to meet these deadlines. Moreover, it won’t affect the quality of a paper: our writers are able to write quickly and meet the deadlines not because they do it half-heartedly but because they are very experienced in this. from$ per page/10() Dissertation On Purchasing Power Parity additional service allows tracking the writing Dissertation On Purchasing Power Parity process of big orders as the paper will be sent to you for approval in parts/drafts* before the final deadline. What is more, it /10()