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Purchasing power parity for 10 Latin American integration association countries: panel SURKSS tests

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  • Tsangyao Chang
  • Wen-Chi Liu
  • Chin-Ping Yu
  • Shuchen Kang

Abstract

This empirical study applies panel SURKSS tests, proposed by Wu and Lee (2009), to investigate the properties of long-run Purchasing Power Parity (PPP) in a sample of 10 Latin American Integration Association (LAIA) countries over the period January 1980 to September 2008. The empirical results from several panel-based unit root tests indicate that PPP does not hold for the LAIA-10 countries under study; however, panel SURKSS tests indicate that PPP is valid for half of these LAIA-10 countries. These results have important policy implications for these LAIA-10 countries under study.

Suggested Citation

  • Tsangyao Chang & Wen-Chi Liu & Chin-Ping Yu & Shuchen Kang, 2010. "Purchasing power parity for 10 Latin American integration association countries: panel SURKSS tests," Applied Economics Letters, Taylor & Francis Journals, vol. 17(16), pages 1575-1580.
    • Handle: RePEc:taf:apeclt:v:17:y:2010:i:16:p:1575-1580
    DOI: 10.1080/13504850903049668
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    Cited by:

    1. Chi-Wei Su & Tsangyao Chang & Yu-Shao Liu, 2012. "Revisiting purchasing power parity for African countries: with nonlinear panel unit-root tests," Applied Economics, Taylor & Francis Journals, vol. 44(25), pages 3263-3273, September.
    2. Hem Basnet & Subhash Sharma, 2015. "Exchange rate movements and policy coordination in Latin America," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 39(4), pages 679-696, October.
    3. He, Huizhen & Chou, Ming Che & Chang, Tsangyao, 2014. "Purchasing power parity for 15 Latin American countries: Panel SURKSS test with a Fourier function," Economic Modelling, Elsevier, vol. 36(C), pages 37-43.
    4. Bekő Jani & Boršič Darja, 2018. "Testing the Purchasing Power Parity Hypothesis: Case of ASEAN Economies," Naše gospodarstvo/Our economy, Sciendo, vol. 64(4), pages 74-85, December.

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