Productivity Bias Hypothesis and The Purchasing Power Parity: a review article
综述了生产率偏差假说，该假说认为各国生产率差异是导致购买力平价汇率偏离均衡汇率的主要原因。文章回顾并批评了1976年以来的三类实证研究（横截面、时间序列、面板数据），并用表格总结了每项研究的主要特征。
Abstract. Productivity differentials among countries are said to be one of the major sources that contribute to the deviation of the Purchasing Power Parity‐based exchange rate from the equilibrium rate, hence the productivity bias hypothesis. Prior to last review article on the productivity bias hypothesis in 1976, almost all studies relied upon cross‐sectional regression analysis. Since then, two groups of empirical studies have emerged. While one group has employed time‐series data, the other one has used panel data. These two later groups have provided more support to the hypothesis than the earlier cross‐sectional studies. This paper reviews and criticizes each group separately and provides tables that summarize main features of each study.