ARE THE CPI AND WPI APPROPRIATE MEASURES TO USE FOR TESTING THE PPP HYPOTHESIS?

Emerald - Tập 18 Số 1 - Trang 62-99 - 1997
MarilynMiller Dutton1
1Assistant Professor, School of Business, North Carolina Central University, Durham, NC 27707

Tóm tắt

This paper evaluates the commonly used CPI and WPI proxies for the real exchange rate by comparing them to new measures constructed from a different data series of traded and nontraded goods prices. The tests provide mixed evidence in favor of using the general price indexes to construct measures of the real exchange rate.

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Emerald

Tập 18 Số 1

62-99

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