La paridad del poder adquisitivo: nueva evidencia para Colombia y Latinoamérica
Purchasing Power Parity: another look to the evidence from Colombia and Latin America
Abstract (en)
The problem of the relation between the prices and the exchange rates in the international economy has transcended time, very in spite of the fact that theoretically there is a widespread tendency to believe that this is an economic fundamental law derived from the Law of One Price, and that is known as the Purchasing Power Parity (PPP). This paper presents a new empirical review of the fulfillment of the PPA for Colombia, in comparison with some Latin-American countries for which sufficient information is available (Argentina, Brazil, Chile, Ecuador, Mexico, Peru y Venezuela). The reference period runs from 1970-2011, with monthly data; this one uses the most resent techniques for cointegration in data panel. The results show that there exists evidence of the presence of a long term parity relationship for these economies which, on paper, are quite similar in terms of economic structure and idiosyncrasy.Abstract (es)
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