Discrepancies between Purchasing Power Parities and Exchange Rates under the Law of One Price: A Puzzle (partly) Explained?
(by Leon Podkaminer)
wiiw Working Paper No. 69, September 2010
18 pages including 5 Tables
Keywords: Purchasing Power Parity, exchange rate, PPP/ER discrepancy, Law of One Price, Balassa-Samuelson Effect, trade integration, computable general equilibrium, cross-country systems of demand functions, Almost Ideal Demand System, tradable goods, non-tradable goods
JEL classification: F11, F15, D12, D58, F31, O57
Countries covered: European Union
Topics: Macroeconomic Analysis and Policy, Other
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