중남미
연구정보
[경제] An empirical examination of purchasing power parity: Argentina 1810–2016
아르헨티나 국외연구자료 연구보고서 - Wiley 발간일 : 2020-08-01 등록일 : 2021-02-18 원문링크
This paper examines the purchasing power parity behaviour for Argentina during the 1810–2016 period. To that end, we use cointegration analysis and error correction models allowing for structural breaks. We find a long‐run relationship between the AR$/USD exchange rate and the price differential between Argentina and the USA. In particular, we offer empirical evidence in favour of a cointegrating equation with two structural breaks. We also find evidence that the data could identify an appropriate error correction model for the short‐run dynamics, hence providing further support for the cointegrating equation as a long‐run relationship.
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