Testing Symmetry and Proportionality in PPP: A Panel-Data Approach
使用贝叶斯面板数据方法，检验购买力平价理论隐含的对称性和比例性条件，基于所有经合组织成员国在布雷顿森林体系后的数据，未发现支持这些条件的证据。
Purchasing power parity (PPP) is a proposition equating the nominal exchange rate to the ratio of the domestic to foreign price levels. This article employs Bayesian panel-data methods to test for PPP, in particular, the implied symmetry and proportionality conditions. Using a dataset of all the Organization for Economic Cooperation and Development member countries in the post-Bretton Woods era, I do not find support for symmetry and proportionality in PPP over time and across countries.