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What is Validity of Purchasing Power Parity about?

The document examines the validity of the Purchasing Power Parity (PPP) theory through empirical analysis. It summarizes studies by Taylor and Taylor (2004) and others that plot consumer and producer price indices of the US and UK from 1791 to 2001. The graphs show that absolute PPP does not hold consistently in the short-run, but relative PPP and national price levels tend to move together over the long-run. Additional analysis of CPIs and PPIs across countries finds that relative PPP holds better for high

Author

luongtuananh229

Language

EN