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1
Speed, Preston Brooks. "Tests of purchasing power parity." Thesis, This resource online, 1996. http://scholar.lib.vt.edu/theses/available/etd-01292009-063028/.
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Dúbravská, Pavla. "Purchasing Power Parity in Transition Economies." Master's thesis, Vysoká škola ekonomická v Praze, 2007. http://www.nusl.cz/ntk/nusl-3895.
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The goal of this diploma thesis is to assess purchasing power parity (PPP) under the conditions of transition process. The thesis provides a survey of the purchasing power parity theory and concentrates on the relative version. It outlines main causes of possible deviations and modifications of the model. In the empirical part four transition economies are tested for the PPP theory: the Czech Republic, Hungary, Poland and Slovakia. The diploma thesis concludes with analysis of the role of the exchange rate under conditions of a small open economy. The overall analysis is implemented within the context of real and nominal convergence towards European Union and future accession to the European Monetary Union.
3
Bukat, Michał Aleksander. "Purchasing Power Parity - Theory and Practice." Master's thesis, Vysoká škola ekonomická v Praze, 2015. http://www.nusl.cz/ntk/nusl-206079.
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The thesis explains the theory of purchasing power parity and related concepts. It shows differences in prices and wages all around the globe and gives theoretical explanation of existing disparities. The goal is to find out how prices differ in reality, where costs of living are the highest or the lowest and what makes some products more or less expensive in different countries. In order to answer the questions the thesis deals with, the variety of sources was used, starting from economics textbooks, academic journals, literature reviews, the Economist website, a study of UBS 'Prices and Earnings', International Monetary Fund database and others.
4
Carnovale, Christina. "Purchasing power parity and frequency domain filtering." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 2001. http://www.collectionscanada.ca/obj/s4/f2/dsk3/ftp05/MQ65028.pdf.
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Machado, Flávio A. de Stéfani. "An econometric study on purchasing-power parity." reponame:Repositório Institucional do FGV, 2011. http://hdl.handle.net/10438/8280.
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Previous issue date: 2011-04-08<br>Neste trabalho abordamos alguns "puzzles" da Paridade do Poder de Compra (PPC) ainda não resolvidos; durante esse processo propomos um novo modelo não-linear e estudamos o papel da agregação temporal e de bases de dados abrangendo apenas um pequeno período histórico. A hipótese de que não existe uma força de convergência agindo sobre o câmbio real ajustado (ARER) foi fortemente rejeitada estatisticamente, e a não-linearidade se mostrou um questão importante. As meia-vidas encontradas para o Brasil usando os modelos padrão parecem ser uma das menores já encontradas para um país, e chegamos à conclusão de que a velocidade de convergência em direção a PPC ainda não pode ser considerada um consenso. Pretendemos, em adição, dar contribuições através do levantamento e esclarecimento de alguns resultados e problemas potenciais concernentes ao estudo da PPC.<br>In this work we address some unresolved purchasing-power parity (PPP) puzzles; during the process we propose a new nonlinear model and check the role of temporal aggregation and of datasets covering only a small period of time. The hypothesis that there is no convergence force acting on ARER has been strongly statistically rejected and the nonlinearity showed itself as an important issue. The half-lives found for Brazil using standard models seem to be one of the smallest ever found for a country. However, we concluded that the speed of converge towards PPP is not a consensus yet. Besides, we expect to give contributions to PPP literature by pointing out important results and potential pitfalls on PPP research.
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Nuasir, Salah Ahmad. "Does purchasing power parity hold in developing countries? an application to the Asian countries /." access full-text online access from Digital dissertation consortium online access from ProQuest databases, 2001. http://libweb.cityu.edu.hk/cgi-bin/er/db/pqdiss.pl?3037125.
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Beirne, John. "International exchange rate dynamics and purchasing power parity." Thesis, Brunel University, 2010. http://bura.brunel.ac.uk/handle/2438/4246.
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This thesis provides evidence in favour of the long-run validity of Purchasing Power Parity (PPP) using primarily a linear error correction framework. Through an examination of PPP where proportionality and symmetry are implicitly imposed, it is shown that a selection of twelve EU real exchange rates is stationary on a univariate basis. The contribution here is based on the reconciliation of unit root test outcomes across univariate and panel tests. Following this analysis, the Johansen cointegration procedure is employed to examine whether long-run equilibrium relationships can be identified in systems of real exchange rates. The implications of results found are set out in terms of regional exchange rate policy co-ordination, exchange rate regime appropriateness, and monetary integration. By focussing on interdependent regions that were affected by a major financial shock (Europe: EMS crisis; Latin America: Mexican crisis; South East Asia: 1997 crisis), the real exchange rate dynamics are compared in pre- and post-crisis scenarios.This thesis also presents evidence in favour of PPP by examining the less restrictive scenario where neither proportionality nor symmetry is imposed. Given the fact that most developed economies have highly integrated goods and capital markets and liberalised capital accounts, the failure to find evidence for PPP in previous studies may be due to the exclusion of factors that might reflect the behaviour of capital markets and their influence on the exchange rate. To test this, the traditional nominal exchange rate and domestic/foreign price based system is augmented with an interest rate component. In a tripolar specification, the joint test of PPP and Uncovered Interest Parity (UIP) is found to hold in a system comprising Germany, Denmark and the UK, suggesting well-integrated goods and capital markets and the long-run convergence evident suggests that Denmark and the UK might be suitable for membership of the euro area. This convergence appears to be stronger when short-term interest rates are used as opposed to long-term rates (perhaps since they are not subject to distortions such as taxation and maturity levels). Furthermore, long-rates have been associated recently with an inversion of the yield curve, while evidence to support the yield curve in non-crisis times is mixed. Finally, multivariate and panel cointegration procedures are employed to provide evidence for the suitability of potential future euro area entrants from Central and Eastern Europe in tri-variate systems comprising the euro nominal exchange rate and two price series.
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Baralexis, Spyridon K. "Impact of general purchasing power accounting on Greek accounts." Thesis, University of Stirling, 1989. http://hdl.handle.net/1893/2604.
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This Study addressed the inflation accounting problem with respect to Greece. This problem had been unaddressed despite the serious implications it may have on micro- and macro-decision making due to the high and persistent inflation Greece has sustained from 1973 and afterwards. To accomplish the above purpose, the general significance of inflation accounting as well as its specific significance for Greece was established by means of the existing inflation accounting literature and the economic setting of Greece. Following this, the relevance of GPPA rather than CCA to the Greek financial reporting was established by means of correspondence between specific features of GPPA and specific characteristics of the Greek setting. After having established the a priori relevance of GPPA for Greece, the potential usefulness of GPPA to the Greek users of accounts was established as well on an empirical basis. For this purpose the impact of GPPA on Greek accounts was approximated ex ante through detailed restatement procedures and estimation techniques. It was found that inflation has a serious impact on earnings and especially on such important (for decision making) financial parameters as tax rate, dividend payout ratio, and return on capital employed. This impact of inflation on earnings does not seem to be systematic, and hence it cannot be estimated by use of HCA numbers. Therefore, GPPA should be adopted at least on a supplementary (to HCA) basis, if in the future the increase in the inflation rate continues to be as high as it was in the period examined by the study (i.e. 25% or so). In additon to the main conclusion above, other conclusions drawn on the basis of the empirical findings obtained are as follows: 1. The Composite Age Technique used (mainly in the USA) for the restatement of fixed assets and depreciation does not work at all in the Greek case. In contrast, the Dichotomus Year Technique in the first place, and the Equal Additions Technique, in the second place, may be used for adjusting fixed assets not only in developing countries like Greece, but, perhaps in developed countries as well. 2. Operation costs of GPPA can be saved by restating fixed assets and depreciation on an annual rather than monthly basis. 3. Perhaps the Greek government should consider the taxes imposed on corporate net profits in times of high inflation because it was found that the effective tax rate is substantially different from the nominal one. 4. There are serious implications for the Greek businesses in the finding that in real term dividends are paid out of capital rather than out of income. 5. The profitability of Greek companies is low when measured in real terms. Hence, businessmen should exercise every effort to improve it. On the other hand, the Greek government should consider the prices control imposed.
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Ballard, Billy L. (Billy Lanoy). "Corporate Tax Rates and the Purchasing Power Parity Doctrine." Thesis, University of North Texas, 1988. https://digital.library.unt.edu/ark:/67531/metadc500570/.
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This thesis analyzes the effect of corporate tax rates on the purchasing-power-parity (PPP) doctrine. The data used to test this hypothesis are drawn from the U. S., the U. K., the Federal Republic of Germany, Canada, and Japan. The first chapter introduces the reader to the concepts of the PPP doctrine and states the hypothesis. Chapter 2 reviews the literature on the PPP doctrine. Chapter 3 specifies a model of the PPP doctrine including tax rates. Chapter 4 reports and interprets the findings. The study is summarized and conclusions are drawn in chapter 5. In this study it is shown that tax rates are significant only in the case of the U. S. dollar/Canadian dollar exchange rate.
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SILVA, LEONARDO XAVIER DA. "OPERATING POWER RESERVE AS ANCILLARY SERVICE: MARKET MECHANISM FOR PURCHASING." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2001. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=1914@1.
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CONSELHO NACIONAL DE DESENVOLVIMENTO CIENTÍFICO E TECNOLÓGICO<br>No modelo econômico tradicional, o sistema elétrico podia
ser constituído por empresas verticalizadas, isto é, os
serviços de geração, transmissão e distribuição podiam ser
providos por uma mesma empresa. Nesta estrutura, serviços
como reserva de potência, suporte de reativos, reserva de
transmissão, ou seja, os chamados Serviços Ancilares à
operação do sistema elétrico, não eram computados com
custos específicos a serem restituídos, já que os mesmos
encontravam-se agregados ao preço da energia elétrica. No
novo modelo econômico, onde cada empresa presta um tipo de
serviço, é crescente a importância da caracterização de
cada Serviço Ancilar. Definidos os prestadores do serviço e
usuários, torna-se explícita a necessidade de uma estrutura
de mercado para aquisição e revenda do Serviço Ancilar.
Este trabalho propõe um mecanismo de mercado para compra e
venda de Serviços de Reserva de Potência Operativa por
intermédio de um agente de mercado sem fins lucrativos.
Este é baseado no mecanismo praticado pelo California
Independent System Operator e, devidamente adaptado, pode
ser aplicado ao sistema elétrico brasileiro. As principais
adaptações são: i) o ajuste da venda para permitir uma
distribuição justa da vantagem econômica obtida com a
compra considerando os mercados interdependentes, e ii) o
ajuste da venda para que os compradores somente das
reservas R1 e R2 afetem os preços de R1 e R2, e não os
preços de R3 e R4.<br>In the previous structure of the Brazilian power sector,
the economic model was such that the same company could
provide generation, transmission and distribution services.
In this model, services such as power reserve, reactive
power support and transmission reserve, i.e., the so-called
Ancillary Services to the operation of the electric system,
were not considered explicitly. Therefore, no specific
costs had to be paid as they were aggregated to the final
energy price. In the new structure of the power sector,
where each company provides a different type of service,
the distinction of each Ancillary Service becomes a very
important issue to the energy business. Once defined the
service providers and users, it is evident the need of a
market structure for selling and buying the service. This
work suggests a market mechanism for selling and buying the
Power Operative Reserve Service through a non-profit market
agent. This proposal is based on the California`s
Independent System Operator mechanism and, if properly
adapted, can be applied to the Brazilian Power System. The
main adaptations are: i) the adjustments of the sale price
to allow a fair distribution of the economic advantage
gotten with the purchase considering the interdependent
markets, and ii) the adjustments of the sale price for the
purchasers of only R1 and R2 reserves to affect only the
prices of R1 and R2 and not the prices of R3 and R4.<br>En el modelo económico tradicional, el sistema eléctrico
podía ser constituido por empresas verticalizadas, es
decir, los servicios de generación, transmisión y
distribuición podían pertenecer a una misma empresa. En
esta extructura, servicios como reserva de potencia,
soporte de reactivos, reserva de transmisión, o sea, los
llamados Servicios Auxiliares a la operación del sistema
eléctrico, no eran calculados con costos específicos que
serían restituidos, ya que éstos se encontraban agregados
al precio de la energía eléctrica. En el nuevo modelo
económico, donde cada empresa presta un tipo de servicio,
cresce la importáncia de la caracterización de cada
Servicio Auxiliar. Una vez definidos los prestadores del
servicio y los usuarios, se necesita de una extructura de
mercado para adquisición y revenda del Servicio Auxiliar.
Este trabajo propone un mecanismo de mercado para compra y
venda de Servicios de Reserva de Potencia Operativas por
intermedio de un agente de mercado sen fines lucractivos.
Este es basado en el mecanismo praticado por el California
Independent Systen Operator y, debidamente adaptado, puede
ser aplicado al sistema eléctrico brasilero. Las
principales adaptaciones son: i) ajuste de la venda para
permitir una distribuición justa de la ventaja económica
obtenida con la compra considerando los mercados
interdependientes, y ii) el ajuste de la venda para que los
compradores solamente de las reservas R1 y R2 afecten los
precios de R1 y R2, y no los precios de R3 y R4.
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Guo, Dawei, and Zhikun Liu. "Chinese Luxury Consumers: A new rising purchasing power ——“Chinese Dama”." Thesis, Högskolan i Borås, Akademin för textil, teknik och ekonomi, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:hb:diva-10014.
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Luxury consumption is more and more common in China with the rapid economic development today. Chinese consumers are becoming a main purchasing power of the fashion luxury brands.Chinese women accounted for 45 percent of Chinese luxury goods consumption at the end of 2012. There is no denying that the female Chinese consumers are playing an increasingly important role in the global luxury goods market. Chinese female luxury consumers between 30 and 50 are considered to be called Chinese Dama. The influences of this group of people on fashion luxuries market is becoming more significant. However, no research seems to have noticed the middle aged female luxury consumers group named Chinese Dama.The purpose of our research is to find out the reasons why this group of people, who are so called “Chinese Dama”, are consuming fashion luxuries. We want to define and identify this special fashion luxury consuming group. Hopefully, the findings in our thesis can inspire some fashion luxury companies to notice this new purchasing power and to come up with better sale and product strategies for Chinese Dama.A qualitative research method was developed to meet the purpose of collecting relevant data. Interviews were made with Chinese Dama we met in Gothenburg airport and a Munich fashion luxury shopping mall. We also made a content analysis on articles collected that explain the issue of who are Chinese Dama and the features and lifestyle of Chinese Dama for the empirical study.The findings of our research can provide information for marketers in the luxury market, which concludes that Chinese females have different type of attitudes and motivations including those found by other scholars and the new motivations and attitudes that were discovered in our investigation towards purchasing fashion luxuries, which are brand awareness, materialism, social comparison for attitudes and guanxi, saving face and reselling to make profit. We not only confirm common acknowledge about Chinese Dama, which is known by everyone in China, but also obtain a better understanding of Chinese Dama. We also concluded that the expression Chinese Dama is no longer appropriate.
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Chen, Renjie. "Using PPP deviations as a trading rule : an indirect joint test of PPP and foreign exchange market efficiency." Thesis, University of British Columbia, 1989. http://hdl.handle.net/2429/42010.
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In this thesis an international investment filter rule is used to test both the tendency for
Purchasing Power Parity (PPP) to hold in the long run and the hypothesis of foreign
exchange market efficiency for the four most actively traded currencies in the world
vis-a-vis the United States dollar: the British pound, the Japanese yen, the Germany
mark, and the Canadian dollar. One way to examine whether there is a tendency for
PPP to hold in the long run and whether the foreign exchange market is efficient, is to
place more money in the 'undervalued' currency according to PPP deviations or to invest
according to PPP deviations, putting more money into interest bearing securities in the
'undervalued' currency, the more this currency is undervalued. The return can then be
compared with a reference rule which does not use this filter, but instead puts an equal
value of money into the currencies or the securities of each country.
This thesis has produced three results. First, using the PPP filter in the exchange
money market yields no significantly abnormal rate of return compared with the reference
rule. The result suggests that we can not reject the hypothesis that the tendency for PPP
to hold in the long run does not exist. Second, using the PPP filter to invest in securities
also yields no significantly higher rate of return compared with the reference rule. And
third, when comparing the domestic (or foreign) interest rates with the rates of return
for the domestic (or foreign) investor who uses the PPP filter, there is no significant
difference between these rates in the long run. The last two results suggest that we can
not reject the hypothesis that the foreign exchange-market is efficient.<br>Business, Sauder School of<br>Graduate
13
Tshipinare, Katso. "Purchasing power parity between Botswana and South Africa: a cointegration analysis." Thesis, University of the Western Cape, 2006. http://etd.uwc.ac.za/index.php?module=etd&action=viewtitle&id=gen8Srv25Nme4_1984_1184669340.
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<p>This paper tested the purchasing power parity hypothesis for Botswana and South Africa using cointegration analysis. The data used are the spot exchange rate between the two countries (rand and pula) and their consumer price indices.</p>
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Bastos, Felipe de Sousa. "Reversion rate of deviations from purchasing power parity for Brazilian cities." Universidade Federal do CearÃ, 2014. http://www.teses.ufc.br/tde_busca/arquivo.php?codArquivo=11362.
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Conselho Nacional de Desenvolvimento CientÃfico e TecnolÃgico<br>This work aims to provide non-biased estimates of the speed of reversion of deviations from the PPP for 11 Brazilian cities, between 1991 and 2013, using the methodology proposed by Choi, Mark and Sul (2006), which makes use of a panel estimation method with correction for three possible sources of bias, those being: the bias of inappropriate grouping of cross-section units with heterogeneous coefficients, the Nickell bias and the bias arising from the temporal aggregation of price indexes. The half-lives obtained are of the order of 4.41 and 3.18 years with Brazil and the Average as references, respectively, and median half-life of 3.13 years, when considering all Brazilian cities analyzed as the numeraire. The half-lives found were also substantially lower than those obtained for American cities. Furthermore, 33.33 % of the half-lives obtained were inferior to the consensus range suggested by Rogoff (1996) of 3-5 years, and none surpassed that range.<br>O presente estudo se propÃe a prover estimativas nÃo viesadas da velocidade de reversÃo dos desvios da PPC para 11 cidades brasileiras entre 1991 e 2013 atravÃs da metodologia proposta por Choi, Mark e Sul (2006) que usam um mÃtodo de estimaÃÃo em painel com correÃÃo para trÃs possÃveis fontes de viÃs, quais sejam, viÃs de agrupamento inapropriado de unidades cross-sections com coeficientes heterogÃneos, viÃs de Nickell e o viÃs oriundo da agregaÃÃo temporal dos Ãndices de preÃos. As meias-vidas obtidas sÃo da ordem de 4.41 e 3.18 anos tendo Brasil e MÃdia como referÃncia, respectivamente, e meia-vida mediana de 3.13 anos considerando todas as cidades brasileiras analisadas como numerÃrio. As meias-vidas encontradas tambÃm se mostraram substancialmente inferiores Ãquelas obtidas para as cidades americanas. AlÃm disso, 33.33% das meias-vidas aqui obtidas se mostraram inferiores ao intervalo consensual proposto por Rogoff (1996) de 3 a 5 anos, e nenhuma o ultrapassou.
15
Chen, Sofia, and Ruoshui He. "Purchasing Power Parity (PPP) Deviations: The case of H&M." Thesis, Internationella Handelshögskolan, Jönköping University, IHH, Nationalekonomi, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-49060.
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The theories of the law of one price and purchasing power parity are thought to hold almost exactly in financial market, but it seems less likely to occur in international trade where arbitrage opportunities take place. The purpose of this study is to test whether the purchasing power parity holds for commodities in various national markets, for which a quantitative method is followed. For identical goods, the prices should be equal across countries. In fact, the prices vary significantly across ‘truly homogenous’ goods within a product group. The finding suggests that differences in productivity and value-added tax do have significant positive impacts on price settings. As a consequence, purchasing power parity definitely does not prevail as well as law of one price does not. Further studies can use these findings to examine the extent and permanence of violations of the law of one price.
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Yuyuenyongwatana, Robert P. (Robert Privat). "Purchasing Power Parity and the Efficient Markets: the Recent Empirical Evidence." Thesis, University of North Texas, 1988. https://digital.library.unt.edu/ark:/67531/metadc331946/.
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The purpose of the study is to empirically determine the relevance of PPP theory under the traditional arbitrage and the efficient markets (EPPP) frameworks during the recent floating period of the 1980s. Monthly data was collected for fifteen industrial nations from January 1980 to December 1986. The models tested included the short-run PPP, the long-run PPP, the EPPP, the EPPP with deviations from expectations, the forward rates as unbiased estimators of future spot rates, the EPPP and the forward rates, and the EPPP with forward rates and lagged values. A generalized regression method called Seemingly Unrelated Regression (SUR) was employed to test the models. The results support the efficient markets approach to PPP but fail to support the traditional PPP in both the short term and the long term. Moreover, the forward rates are poor and biased predictors of the future spot rates. The random walk hypothesis is generally supported.
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Cerrato, Mario. "New panel unit root and cointegration tests of purchasing power parity." Thesis, London Metropolitan University, 2003. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.426599.
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Purchasing Power parity PPP) is one of the most investigated topics in international finance. The empirical analysis on PPP in the 1980s and 1990s relied on univariate tests such as Dickey Fuller and Augmented Dickey Fuller and cointegration tests. The , empirical evidence from these methodologies seemed to produce wery little empirical evidence favouring PPP. However, these methodologies have been shown to have low power and be inadequate when used with highly persistent stochastic processes (for unit root tests of the real exchange rate). One solution followed in the literature to overcome the low power problem was pooling data on two dimensions (i.e. time and cross section dimensions) instead of only one dimension (i,e. time series. d imension). Panel unit root tests of PPP have re-affirmed the existence of this parity condition in some studies. However, the empirical evidence favouring PPP in most of the studies using panel unit root tests might be overvalued due to cross section dependence (O'Connell, 1998). One of the objectives of this thesis is to consider cross section dependence by extending the bootstrap panel unit root proposed by Maddala and Wu (1999) and apply the latter to a panel of twenty OECD real exchange rates. We also use Monte Carlo simulations to examine the size properties of the proposed bootstrap panel test. If on one hand the literature on testing for PPP by using panel unit root tests is wide, on the other hand very little has been done on testing for cointegration between nominal exchange rate and domestic-foreign prices in a panel context. We shall also address this issue by using some new, heterogeneous, and more powerful panel cointegration tests. Furthermore, we also test for the joint symmetry and proportionality restriction by using likelihood ratio tests extended to a panel context. As we have pointed out above there exists a large literature on PPP, but most of the analysis conducted has been undertaken on OEeD countries. Studies of PPP using data for developing countries are limited. In addition, very few of the studies have used black market exchange rates. One of the main objectives of this thesis is to investigate the validity of PPP in developing countries using black market exchange rates. We construct and use a unique data set consisting of twenty emerging market economies and black market nominal exchange rates, spanning over 1973Ml-1993M12. As far as we know such a big data set has never been used in the studies of PPP using black market nominal exchange rates. Furthermore, we use new developed panel unit root and cointegration tests. Another unresolved puzzle in the PPP literature is the low degree of mean reversion of the real exchange rate towards PPP. In fact, if deviation from PPP were due to monetary factors, one would expect a much faster degree of mean reversion of the real exchange rate towards PPP than what reported in the literature (i.e. 3-5 years). Rogoff called this "the purchasing power parity puzzle". We investigate the PPP puzzle in emerging markets using black market real exchange rates and econometric techniques, such as median unbiased estimation and impulse response function, that have been shown to be more appropriate to measure persistence of the real exchange rate (Murray and Papell, 2002). We also employ non-parametric bootstrap to construct confidence intervals for half-lives.
18
Seka, Gilles-Eric Kotchi Gardner H. Stephen. "The utility of the passing time and measurement of the purchasing power of currencies in the flexible-exchange-rate system." Waco, Tex. : Baylor University, 2008. http://hdl.handle.net/2104/5252.
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Kalinda, Mkenda Beatrice. "Essays on purchasing power parity, real exchange rate, and optimum currency areas /." Göteborg : Nationalekonomiska institutionen, Handelshögsk, 2000. http://www.handels.gu.se/epc/data/html/html/1973.html.
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Hall, Denis Michael. "Purchasing power: the New York market for modern American painting 1913-40." Thesis, Northumbria University, 2001. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.589736.
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This study sets out to examine the development of the art market in New York for modem American art between the years 1913 and 1940. In doing so, it aims to make a significant contribution to this relatively neglected subject. Whilst much has been written about artistic production in New York much less has been written about its distribution and consumption, though these form co-dependent elements of an art market. Without a community of art producers neither distributive mechanisms nor an appreciative audience of purchasers can be established; at the same time, continuing art production is reliant on effective ongoing support systems. My overall interest stems from a wish to trace the conditions that enabled New York to take over from Paris as the world's art centre by the middle of the twentieth century. I also wanted to understand the motivations of New York collectors in purchasing modem European and American art and how these changed over time; in other words, how it came to be that taste shifted from the overall preference for European art at the beginning of the period to an enthusiasm for modem American art by the end. In turn I wanted to know how the New York dealer infrastructure to enable this came to be in place by 1940 - the vital component to ensure both the cultural and commercial success of Abstract Expressionism during the forties and fifties. In all of this, a central and sustained interest revolves around the experience of the artist in the art market, in this case the New York art market.
21
Evans, Anne-Marie. "Purchasing power : consumerism and female commodification in twentieth-century American women's fiction." Thesis, University of Sheffield, 2009. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.576499.
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Neumann, Cornelia. "Purchasing Power Parity in the European Union A panel unit root test /." St. Gallen, 2008. http://www.biblio.unisg.ch/org/biblio/edoc.nsf/wwwDisplayIdentifier/05604160001/$FILE/05604160001.pdf.
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Carter, Sophie. "Purchasing power : representing metropolitan prostitution in eighteenth-century English popular print culture." Thesis, University of East Anglia, 1998. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.267322.
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Ölçer, Dilan. "Purchasing power : the political economics of authoritarianism, natural resources, and budget cycles." Paris, Institut d'études politiques, 2013. http://www.theses.fr/2013IEPP0028.
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Cette thèse de doctorat en économie politique se compose de trois chapitres indépendants qui enquêtent sur les différents aspects de l’interaction entre l’allocation des ressources publiques et le résultat économique. Bien que la volonté d’acquérir et de conserver le pouvoir politique figure centralement dans chacun des trois chapitres, les environnements institutionnels et les questions abordés varient. Le premier chapitre pose, Quels outils fiscaux utilisent les dirigeants politiques pour améliorer leurs chances de rester au pouvoir dans les pays à faible revenu, et comment les utilisent-ils? Le deuxième chapitre pose, Est-ce que les électeurs dans les États Unis d’Amerique récompense différemment de des dépenses publique lorsque les ressources de l’Etat s’appuient fortement sur les revenus pétroliers? Enfin, le troisiéme chapitre demande, Quelle dynamique de croissance économique peut-on attendre d’un pays où le leader autoritaire, dont la survie au pouvoir dépend de la proportion de la population le soutient, fait le compromis entre investir dans son propre support ou dans le prospérité économique future du pays?<br>This PhD dissertation in political economics consists of three independent papers that investigate different aspects of the interaction between public resource allocation and economic outcome. While the willingness to acquire and maintain political power figures centrally in each of the three papers, the institutional environments and the questions addressed vary. The first paper asks, What fiscal tools do political leaders use to improve their chances of remaining in power in low-income countries, and how do they use them? The second paper asks, Do voters in the American states reward spending growth differently when the state resources rely heavily on oil revenues? Finally, the third paper asks, What economic growth dynamics may we expect from a country where the authoritarian leader, whose survival in power depends on the share of the population supporting him, makes the trade-off between investing in his own support or in the nation’s future economic prosperity?
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Unkovski, Goran. "Purchasing power parity and Reserve Bank intervention in the foreign exchange market." Master's thesis, University of Cape Town, 2004. http://hdl.handle.net/11427/5681.
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Includes bibliographical references.<br>This paper tests the behaviour of the PPP relationship in South Africa between 1993 and 2003 using cointegration techniques. The period under review is divided into two sub-phases. The first, from January 1993 to May 1998, encompasses the changing political situation and the initial effects of global integration for South Africa. It is found that the PPP relationship holds during this time frame.
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Hart, Angie. "Purchasing power? : an ethnographic study of men who buy sex in Alicante, Spain." Thesis, University of Oxford, 1993. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.357544.
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Jiang, Ying. "Essays on forecasting exchange rate volatility, central bank interventions and purchasing power parity." Thesis, University of Essex, 2009. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.496272.
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Pollock, A. C. "Modelling the UK real effective exchange rate index : A purchasing power parity framework." Thesis, University of the West of Scotland, 1988. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.379429.
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The aim of the thesis is to explain short and medium term movements of the U.K. real effective exchange rate index from 1972 to 1984, within a relative purchasing power parity framework. This index is measured using both consumer and wholesale price indices. Movements are examined within a model that incorporates trade flow and asset market mechanisms. In order to validate the model, consideration of time series analysis, the measurement of expectations and the econometric estimation of the model are undertaken. The time series characteristics of the U.K. real and nominal effective exchange rate index are examined using regression, correlation, spectral and non-parametric statistical techniques. These imply that U.K. real exchange rate movements follow a quasi-random walk. Violations from the random walk occur partly due to the use of period averages in the construction of the index and partly from medium term time dependence. The empirical analysis of expectations is undertaken in a rational expectations framework. It is found that the best short term predictor of the nominal effective exchange rate index is a constructed forward effective exchange rate index. However, short term exchange rate movements appear largely due to 'news'. In the longer term, exchange rate expectations appear to be influenced by movements in the real current balance of goods and serVIces. The econometric analysis gives results broadly consistent with the model. This supports the view that the U.K. real effective exchange rate index returns to its equilibrium value in the long term, with movements in the short and medium terms eventually being corrected by trade flow and asset market mechanisms
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Oh, Keun-Yeob. "A study of purchasing power parity using unit root tests in panel data." Connect to resource, 1994. http://rave.ohiolink.edu/etdc/view.cgi?acc%5Fnum=osu1262874375.
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MIGOWSKI, EDUARDO SEIXAS. "THE GOVERNMENT OF CROWDS: POPULATION AND POWER IN MICHEL FOUCAULT." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2013. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=27436@1.
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PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO<br>COORDENAÇÃO DE APERFEIÇOAMENTO DO PESSOAL DE ENSINO SUPERIOR<br>PROGRAMA DE SUPORTE À PÓS-GRADUAÇÃO DE INSTS. DE ENSINO<br>Esta monografia tem, como objetivo geral, perceber a articulação entre as relações de poder e a população ao longo de diferentes períodos. Partindo de alguns conceitos clássicos, desenvolvidos pelo filósofo Francês Michel Foucault, como poder de soberania e disciplinar, bem como a noção de sociedade de controle trabalhada por Gilles Deleuze, será feita uma análise dos mecanismos que levam à passagem de uma tecnologia de poder a outra ao longo de diferentes momentos do processo histórico.<br>This monograph has as main objective to understand the relationship between power relations and the population over different periods. Starting with some classic concepts developed by French philosopher Michel Foucault, as sovereign and disciplinary power, and the notion of control society of control by Gilles Deleuze, is an analysis of the mechanisms that lead to the passage of power from one technology to another over different times of the historical process.
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Hartoyo. "Selected factors associated with consumers' perceptions of family finances, business, and buying conditions /." This resource online, 1991. http://scholar.lib.vt.edu/theses/available/etd-11298-22160/.
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Vass, Susanna. "Investing in commercial real estate : An analysis of the purchasing power in Stockholm´s retail areas." Thesis, KTH, Fastigheter och byggande, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-96476.
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The interest in investing in commercial real estate has increased in recent years and as a result the need for making well informed investment decisions has increased as well. Investing in real estate is different from investing in other asset classes due to its longevity, spatial constraint, regulatory framework etc. and thus investing in commercial real estate requires knowledge of the specific attributes of the property itself as well as in the factors in the surrounding area that affect the property. Thus, the purpose of this thesis is to enlighten the reader of the various investment issues that arise when investing in commercial property and to give an account of how the investment decision is actually performed and what factors affect it. The research on how commercial real estate investments are made is firstly provided through a literature review that highlights several investment issues and illustrates of how investment decisions are made by conducting the market analysis. In the next section of the thesis, a practical market analysis follows conducted on the retail area of Stockholm that is based on the findings and suggested procedures in the literature review. The market analysis is designed to incorporate a qualitative research where the data is gathered and calculated and a quantitative research where the data compiled in the quantitative research is analyzed and interpreted. The analysis of the market analysis shows that there is a vast amount of data available to consider when executing the market analysis and that these data have to be carefully selected in the screening of the real estate market. It is vital to include only relevant factors that affect the demand for the specific property, and consequently the ability of the property to generate payoff, in order to for the market analysis to provide insightful and important guidance for the investment decision at hand. Even though the research in this study provide important implications for investor on which demand factors that are important in a market analysis, the study is still limited by the inaccessibility to property specific demand factors such as rental contracts and repair and maintenance costs, which results in a suggestion of further research in this field in particular.
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Khoo, Sye Min. "Long run real exchange rate movements in fourteen Asian economies, the validity of purchasing power parity." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 1998. http://www.collectionscanada.ca/obj/s4/f2/dsk2/ftp01/MQ35508.pdf.
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Lin, Therese, and Stefan Maras. "Analysis of the Regional Purchasing Power in the Swedish Housing Market : A Multiple Regression Modeling Approach." Thesis, KTH, Matematisk statistik, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-229735.
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This report analyzes which macroeconomic factors have the greatest effect on a consumer’s purchasing power on the Swedish housing market. Multiple linear regression analysis is used to construct separate models for each of the eight Swedish regions: West Sweden, South Sweden, Småland and the Islands, Stockholm, East Middle Sweden, Middle Northern Sweden, North Middle Sweden and Upper Northern Sweden. The chosen factors, which are also used as regressors in the regression model, are disposable income, increase in households, employment rate, the Riksbank’s repo rate, square meter price for tenant owned flats and new construction of residential homes. Quarterly data is collected and processed for every macroeconomic factor from the second quarter of 2005 to the fourth quarter of 2015. The affordability is defined as the consumer closing price for tenant owned flats and it is used as the response variable for the regression models. The models are first fitted using all the regressors. To improve the models and potentially eliminate some of the macroeconomic factors a number of different model adjustments, such as Cook’s distance, VIF evaluation, stepwise forward and backward elimination are used. The results show that the purchasing power among the regions is mainly described by disposable income, employment rate and increase in households. Disposable income is the macroeconomic factor that has the greatest effect on the regional purchasing power.<br>Den här rapporten analyserar vilka makroekonomiska faktorer som påverkar hushållens köpkraft på den svenska bostadsrättsmarknaden. Multipel linjär regressionsanalys används för att konstruera separata modeller för Sveriges åtta regioner: Västsverige, Sydsverige, Småland och öarna, Stockholm, Östra Mellansverige, Norra Mellansverige, Mellersta Norrland och Övre Norrland. De valda faktorerna, som också används som förklarande variabler i regressionsmodellen, är disponibel inkomst, hushållsökning, sysselsättningsgrad, riksbankens reporänta, kvadratmeterpriset för bostäder, samt nybygge av bostäder. Kvartalsvis data har sammanställts och processats för varje faktor från det andra kvartalet år 2005 till det fjärde kvartalet år 2015. Köpkraften definieras som konsumenternas avslutningspris för bostäder och används också som responsvariabel i regressionsmodellerna. Basmodellerna för varje region använder alla förklarande variabler. För att förbättra modellerna och eventuellt utesluta några av de makroekonomiska faktorerna används olika modelljusteringar såsom Cooks avstånd, VIF-evaluering, stegvis framlänges- och baklängeseliminering. Resultaten visar på att köpkraften bland regionerna huvudsakligen bestäms av inkomst, sysselsättningsgrad och ökning av antal hushåll. Disponibel inkomst är den makroekonomiska faktor som har den största påverkan på den regionala köpkraften.
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Tvedt, Valerie Maria. "Some factors that effect [sic] statistical power in ANCOVA: a population study." CSUSB ScholarWorks, 2000. https://scholarworks.lib.csusb.edu/etd-project/1764.
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A study into the factors that affect power in an analysis of covariance (ANCOVA) design were examined. Four factors - sample size, significance level, dependent variable-covariate correlations and homogeneity of regression - were varied in a population study. Results indicate that power increased when the dependent variable-covariate correlations increased and when sample size increased. Power also increased when a less stringent alpha level was used. Homogeneity of regression did not effect power. Implications and recommendations for the applied researcher are discussed.
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Wu, Pei-Cheng, and 吳佩橙. "Purchasing Power Parity." Thesis, 2009. http://ndltd.ncl.edu.tw/handle/72547086010944235131.
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Shen, Hung-Ling, and 沈虹伶. "An Empirical Assessment of Purchasing Power Parity." Thesis, 2007. http://ndltd.ncl.edu.tw/handle/x24a3t.
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碩士<br>國立中山大學<br>中山學術研究所<br>95<br>Abstract
The Purchasing power parity （PPP） theory was originally developed by a Swidish economist, Gustav Cassel, in 1916. It is a method using the long-run equilibrium exchange rate of two currencies to measure the currencies'' purchasing power. It is based on the law of one price, the idea that, in an efficient market, identical goods must have only one price internationally. This parity is a central building block of many theoretical and empirical models of exchange rate determination, since most are relied on PPP as the basis for long-run real exchange rates.
While the literature on the PPP hypothesis is voluminous today and still growing, the doctrine has not found well. The validity of PPP can be examined by testing the stationary of real exchange rates. Most of the empirical evidences relied mainly on using linear structure to explore PPP in the past. By using traditional unit root test, the PPP is hard to hold in the long run. There is a growing consensus that previous empirical research reflects the poor power of the tests rather necessarily against PPP. Therefore, the use of more powerful tests is needed.
Recently, an alternative point of view based on the presence of market frictions that impede commodity trade has arisen. The adjustment of real exchange rates is perhaps described more appropriately as a nonlinear process once market frictions are taken into account. There are several reasons that theoretically explain why the adjustment process of deviations from PPP is nonlinear, such as transactions and transportation costs and tariffs and non-tariff barriers to international trade. Therefore, the analysis of real exchange rate should be conducted under the nonlinear structure.
This study uses the STAR methodology proposed by Granger & Teräsvirta (1993) and Teräsvirta (1994) to examine whether the deviation of PPP is a nonlinear dynamic adjustment among the following countries: Australia, Denmark, Italy, Japan, Luxembourg, Norway, Spain, Sweden and the United Kingdom. If the linear hypothesis was rejected, then to distinguish if the model of STAR is LSTAR or ESTAR. This study finds that the deviations from equilibrium exchange rates show strong evidence of nonlinear properties. The deviations of exchange rates for all countries can be explained by the LSTAR model. In conclusion, this study finds the real exchange rates exhibit the property of nonlinear mean reversion for most countries.
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Hill, Robert J. "Purchasing power parity methods of making international comparisons." Thesis, 1994. http://hdl.handle.net/2429/7235.
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The objective of this dissertation is to improve our understanding of the various Purchasing Power Parity (PPP) methods that have been advocated in the literature on
international comparisons. The first of three essays builds on the pioneering work of Van
Yzeren(1987) to rationalize the literature, by constructing a taxonomy of PPP methods.
In particular, the taxonomy reinterprets PPP methods in a graph theoretic context. This
reinterpretation yields many useful insights.
The second essay was motivated by the realization that virtually all PPP methods
have the same underlying graph theoretic structure. This essay develops a new PPP
method which allows the data to choose the underlying structure by using Kruskal’s
“Minimum Spanning Tree” Graph Theory algorithm to chain PPPs across countries
rather than imposing the structure ex ante. The Minimum Spanning Tree (MST) method
may potentially dramatically simplify the procedure for constructing PPPs. The MST
method also has important implications for time series comparisons. The essay concludes
with an empirical comparison using 1990 OECD data between the MST method and the
three most widely used PPP methods.
The third essay focuses specifically on the Average Price class of PPP methods identified in the taxonomy. Average Price methods have the very desirable property of
generating quantity indices that literally add up over different levels of aggregation when
measured in value terms. However, it is widely claimed that Average Price methods
overestimate the output shares of any outlier countries in a comparison. This is the
so-called Gerschenkron effect. In spite of its significant implications, evidence for the
Gerschenkron effect remains largely anecdotal. This essay explains the reasoning behind
the Gerschenkron effect. As part of this explanation it is necessary to give a precise
interpretation to the hitherto vague notion of an “outlier” country. Also frameworks are
developed for empirically verifying and measuring the Gerschenkron effect, which are
then applied to 1990 OECD data, with some surprising results.
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Tseng, Po-Hsin, and 曾伯歆. "Meta-regression Analysis of Purchasing Power Parity Puzzles." Thesis, 2007. http://ndltd.ncl.edu.tw/handle/4zgr26.
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碩士<br>國立中山大學<br>經濟學研究所<br>96<br>Purchasing Power Party (PPP) has long been intensively studied in empirical researches. However, a unanimous conclusion has not been reached. As an alternative to a narrative literature review, this paper conducts a meta-regression analysis of a collection of thirty-three studies, in order to uncover the sources of variation in the empirical findings relating to PPP. We also test the validities of suggestions made by the narrative literature reviewers that the use of more years of data, more countries, more powerful tests, more general model specifications, and an allowance for non-linearity might mitigate the issue of PPP puzzle. We find that the proposition is true and that whether PPP holds in the long run mainly depends on the methodology employed, the regimes the data are sampled from, and the length of the sample of data that is used. When addressing the persistence of the deviations from PPP, it mostly depends on the methodologies adopted.
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Cheng, Min-ling, and 鄭敏伶. "An Empirical Investigation to the Purchasing Power Parity." Thesis, 2003. http://ndltd.ncl.edu.tw/handle/75386139234155589230.
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Berka, Martin. "Purchasing power parity puzzle as a trade phenomenon." Thesis, 2005. http://hdl.handle.net/2429/16899.
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The purchasing power parity puzzle is among the central issues of international macroeconomics. In my thesis, I document and explain the persistence and volatility of its empirical counterpart - the real exchange rate - as a trade phenomenon arising from heterogeneous physical characteristics of products and geography. In the first chapter, a general equilibrium model with shipping costs that depend on physical characteristics of goods and distance leads to endogenous tradability of goods. Deviations of prices from parity are sustained as long as they do not exceed the heterogeneous trade frictions. The real exchange rate exhibits deviations whose persistence matches the data and, when quadratic adjustment costs in change of trade volume are added to the model, also the volatility of the real exchange rate deviations matches the data as well. The second chapter studies monthly deviations from the law of one price for a group of 63 goods and services in Canada and USA between 1970 and 2000 and relates them to a separate dataset of price-toweight and price-to-volume ratios. Threshold estimates are significantly negatively related to the estimates of the price-to-weight ratios and price-to-volume ratios, respectively. Physical characteristics of goods are important empirical determinants of heterogeneous non-linear behavior of deviations of their prices from parity. The third chapter studies the implications for monetary policy in a general equilibrium model where credit crunches occur due to shifts in the distribution of assets among heterogeneous households.<br>Arts, Faculty of<br>Vancouver School of Economics<br>Graduate
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Tsai, Hsin-Yu, and 蔡欣諭. "Purchasing Power Parity Tests: Evidence from Asian Countries." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/18959759147842164526.
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碩士<br>國立東華大學<br>經濟學系<br>98<br>This paper examines the purchasing power parity (PPP) of 15 Asian countries.
The data of Asian countries are monthly nominal exchange rates and aggregate
prices and data from 1973:01 to 2008:09 are also divided into 2 periods in this
paper including 1973:01-1997:07 and 1997:08-2008:09. The three periods are going
to used to examine whether Asian Financial Crisis will influence PPP or not.
According to the criterion of the World Bank, all countries are classified into
2 groups, high income and low income countries. In order to prevent the bias
of single base country, we employ a variety of tests on all possible N(N − 1)/2
nominal exchange rates as well as relative prices between pairs of the N countries.
Major recently developed panel unit root tests, panel cointegration tests and
panel prediction regression are adopted to understand the PPP property in these
countries. The non-stationary process hypotheses for most real exchange rate,
nominal exchange rates and relative prices in the study can not be rejected. We
then found that the there is no evidence to support the strong PPP hypothesis of
the post-Bretton Woods system era in Asia. Morever, panel predictive regression
also provide strong evidence that relative price can not help predict future nominal
exchange rate returns. Furthurmore, the results of panel unit root tests and panel
cointegration estimations find that the Harrod-Balassa-Samuelson effect exists
and the Asian Financial Crisis indeed affect the PPP theory.
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Chen, Ching-po, and 陳清柏. "Re-examine the Purchasing Power Parity in sPVAR Model." Thesis, 2005. http://ndltd.ncl.edu.tw/handle/40788816196244198103.
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碩士<br>國立中山大學<br>經濟學研究所<br>93<br>The studies of exchange rate theory in international finance are divided into several schools. Purchasing Power Parity (PPP) is one important hypothesis in both the Monetary Exchange Rate theory and the main theory in the Open Macroeconomics Model. Although many models are found upon the existence of PPP, but it still has not been proved empirically. That is why it’s important to examine the existence of PPP.
In the past, the statistic analyzing processes are all made directly under the models since all variables have been assumed stationary. However, regressing two non-stationary variables may result in Spurious Regression. The Unit Roots Test and Cointegration Test are developed in order to avoid the problem of spurious regression. Therefore, Unit Roots Test and Cointegration Test should be applied to the variables before estimating during regression analyses. Concerning the power deficiency of Unit Roots Test and Cointegration Test, many researches have adopted the combination time-series and cross-section Panel Data Model in order to improve the power and limitation of small samples. The Panel-Unit Root Test and Panel-Cointegration Test have therefore been developed to avoid Spurious Regression. However, Panel-Unit Root Test and Panel-Cointegration Test are applied with long time-series and large cross-section. Nevertheless, obtaining the data has always been the toughest difficulty during empirical researches, let alone the need for long period and large unit data. These Panel Data Models can only be applied to studies for long period, but not to the short periods.
In order to avoid these problems; Binder, Hsiao and Pesaran (2004) have developed the Short Panel Vector Autoregressions (sPVAR) Model, a Panel Data Model developed with short time-series and large cross-section. Therefore, this paper will focus on Purchasing Power Parity under the sPVAR Model with the examination of PPP for the 30 countries since the introduction of Euro (1998 to 2004).
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HUANG, TAIN-YUE, and 黃天岳. "The Determinants and Value Relevance of Green Power Purchasing." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/3szm9w.
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碩士<br>東吳大學<br>會計學系<br>105<br>Recently, environmental pollution, excessive greenhouse gas emissions and power consumption have been the important issues around the world. The “Paris Agreement” has been passed by United Nations in 2015 and has induced people paying attention to the issue about global environmental changes. This study exploits a sample of Taiwanese listed or OTC firms which purchase green power, and uses matched method to examine the determinants of voluntary green power purchasing, and the effect of purchasing green power on the value relevance of accounting information. Besides, we also investigate whether degree information of green power purchasing has value relevant. The empirical results show that the probability of firms’ voluntary green power purchasing is positively associated with the appointment of independent directors, CEOs do not hold the position of chairman of board, institutional holdings, close customer relations and firms’ competitive position in their industry. In addition, we find that voluntary green power purchasing could improve the value relevance of earnings, however, the effect is insignificant for book value of equities information. Finally, we also find that the degree of green power purchasing is a value relevant information for investors.
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Shih, Chih-Yueh, and 石志岳. "Re-examining the Purchasing Power Parity of European Union." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/uq46n3.
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碩士<br>國立臺灣大學<br>國際企業學研究所<br>106<br>This paper study examines the Purchasing Power Parity of 12 European Union countries. We divide our research objects into 2 categories, the first group includes 7 non-Euro countries—Denmark, Sweden, Czech Republic, Hungary, Poland , Croatia, and Romania; the second group comprises 5 new members of Eurozone—Slovenia, Slovak Republic, Estonia, Latvia, and Lithuania. Besides, this stuty first incorporates
3 main Price Indixes—Harmonised Index of Consumer Prices (HICP), Producer Price Index(PPI), and GDP deflator to the theory of Purchasing Power Parity.
To reach a more complete research process of Real Exchange Rate series, we conduct residual analysis and Bai & Perron structural break test in advance of unit root tests so as to use appropriate unit root tests based on the prior test results. In addtion, this stuty also incorporates DF-GLS unit root test and Zivot & Andrews unit root test considering the structural breaks in the series.
For the global big issues which may lead to significant structural changes of Real Exchange Rate series, the result shows that the 2008-2009 Financial Crisis cause a more significant impact than the European Debt Crisis and the Europe Quantitative Easing Programme. Another noteworthy finding is that joining the EU does not make a significant influence on the structure of Real Exchange Rate series.
Our empirical results show that there is no consistent conclusions on the Purchasing Power Parity. Lithuania and Slovak Republic in the condition of HICP, Estonia and Romania in the condition of PPI, and Sweden in the condition of GDP Deflator can support the Purchasing Power parity. Consequently, we reach different conclusions on the Purchasing Power Parity when applying different Price Indexes.
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Gomes, Marta Carvalho. "Taking a stand: regaining power by purchasing controversial brands." Master's thesis, 2020. http://hdl.handle.net/10362/104567.
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People want to escape theaversive state of powerlessness,asitmakes them feel out of control and induces negative effects. One waythrough which peopleresolvethe absenceof personal control iscompensatory consumption. This work theorizes that powerless individuals will consume more controversial brands because theyare perceived by those individuals as powerful. Byconducting anexperimental study, in whichbrand controversy was manipulated via twoscenarios, no evidence was foundtosupportthemainhypothesis.Unexpectedly, it was found that controversial brands are perceived as less powerful by powerless individuals than by powerful individuals.
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"Operating power reserve as ancillary service: market mechanism for purchasing." Tese, MAXWELL, 2001. http://www.maxwell.lambda.ele.puc-rio.br/cgi-bin/db2www/PRG_0991.D2W/SHOW?Cont=1914:pt&Mat=&Sys=&Nr=&Fun=&CdLinPrg=pt.
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Tsai, Bin-Yen, and 蔡秉諺. "The Research on the Purchasing Power Parity: nonlinear cointegration test." Thesis, 2009. http://ndltd.ncl.edu.tw/handle/21698087698102567368.
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碩士<br>雲林科技大學<br>財務金融系碩士班<br>97<br>Purchasing Power Parity is a very important concept in the theory of exchange rate determination of international finance; the major idea is that the percentage change of exchange rate will equal the difference between percentage change of price in two countries if international trade don’t exist transaction cost, tariff, or barrier of trade. Therefore, we can predict the exchange rate through the price of two countries. There are many approaches to test validity of Purchasing Power Parity in the past decade, but the result is mixed. One of approaches called “Engle Granger two-steps cointegration test” examine whether the residual from the cointegration regression is unit root or not .The result is underperform when we do not take structural breaks consideration. We can not find full evidence to support the validity of Purchasing Power Parity Scholar Perron(1989) emphasizes that we test series with unit root test if we do not take structural breaks into consideration. This will cause over-accept null hypothesis of series is in presence of unit root. The power of unit root test will decline and PPP will be fail. Therefore, this paper chose 8 countries in Asia and 9 countries in Europe. Our empirical periods of all of countries are from January, 1968 to October, 2008 except Belgium、France Germany、Italy、Netherland are January, 1968 to December, 1998 . We used Fourier unit root test developed by Enders and Lee(2004) to compare with traditional Engle-Granger two-step cointegration test which doesn’t take structural breaks into consideration in order to study the impact of structural breaks on the power of test. The result show the two-steps cointegration test can not support the validity of PPP for 17 countries while the Fourier nonlinear method can support the validity of PPP for all countries.
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Sheu, Deng Fang, and 許登芳. "Cointegration and Purchasing Power Parity - an Empirical Study of Taiwan." Thesis, 1993. http://ndltd.ncl.edu.tw/handle/12955273378938661057.
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Yu-Li, Pai, and 白玉莉. "An Empirical Investigation of Purchasing Power Parity for European EconomicIntegration." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/38050704285993557888.
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碩士<br>大葉大學<br>管理學院碩士在職專班<br>99<br>An Empirical Investigation of Purchasing Power Parity
for European Economic Integration
Student: Yu-Li Pai Advisor: Prof. Chin-Chia Liang
DA-YEH UNIVERSITY
ABSTRACT
Since the crisis resulted from a Greek sovereign debt issue into a comprehesive financial crisis for the European Union (EU) as a whole. For the purpose, in this paper we examine convergence towards purchasing power parity (PPP) within the European Union (EU). The data are monthly for the period 1999.01~2010.03 after the Maastricht Treaty Meeting that introduction of the euro.
The study applies a new nonlinear threshold unit root test to the bilateral real exchange rates (RERs). The mixed evidence found in the earlier studies on the validity of PPP within the euro area added to the accumulating theoretical argument and the evidence that some RERs exhibit nonlinear mean reversion motivate us to use nonlinear unit root tests to further test the validity of PPP within the euro zone and between the euro area and other primary partners. The existence of nonlinearity in RERs, which is one potential source arises from nonlinearities in international goods arbitrage because of factors such as transportation costs and trade barriers, causes a price gap among similar goods traded in spatially separated markets. Another source of nonlinearity in RERs comes from official interventions in the foreign exchange market, which might cause the nominal and RERs to move away from the equilibrium levels. The exchange rates may adjust nonlinearly toward their long-run equilibrium with the speed of adjustment varying with the distance from the equilibrium level. To our best knowledge, the direct application of nonlinear unit root tests to the bilateral RERs of the euro area countries is absent in literature. In our study, we apply the methodology developed by Caner and Hansen (2001) that allows us to simultaneously investigate non-stationarity and nonlinearity of RERs to test the Economic Integration is success or not?
Key Words: Purchasing Power Parity; Nonlinear Threshold Unit Test;
Real Exchange Rates; Economic Integration