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Příčiny odchylek nominálních kurzů od absolutní parity kupní síly v tranzitivních ekonomikách
[Causes of Deviations in Nominal Exchange Rates from Absolute Purchasing Power Parityin Transition Economies]

Author

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  • Viktar Dudzich

Abstract

This paper deals with the absolute version of purchasing power parity and its applicability in transition economies. The aim of the paper is to identify and quantify deviations between nominal exchange rates and rates based on purchasing power parity. The paper specifies and analyses the theoretical causes of those deviations and focuses on the impact of prices of non-tradable goods on purchasing power parity. Parity exchange rates based on prices of tradable-only goods are then calculated for 20 transition economies. Panel regression instruments are used to analyse the influence of selected macroeconomic and institutional variables on deviations between nominal exchange rates and rates based on purchasing power parity.

Suggested Citation

  • Viktar Dudzich, 2020. "Příčiny odchylek nominálních kurzů od absolutní parity kupní síly v tranzitivních ekonomikách [Causes of Deviations in Nominal Exchange Rates from Absolute Purchasing Power Parityin Transition Econ," Politická ekonomie, Prague University of Economics and Business, vol. 2020(2), pages 194-212.
    • Handle: RePEc:prg:jnlpol:v:2020:y:2020:i:2:id:1273:p:194-212
    DOI: 10.18267/j.polek.1273
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    More about this item

    Keywords

    purchasing power parity; transition economies; non-tradable goods; transaction costs;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • P22 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Prices
    • P24 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation

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