{"id":"https://openalex.org/W2129886864","doi":null,"title":"Does PPP hold for Big Mac price or consumer price index? Evidence from panel cointegration","display_name":"Does PPP hold for Big Mac price or consumer price index? Evidence from panel cointegration","publication_year":2007,"publication_date":"2007-05-22","ids":{"openalex":"https://openalex.org/W2129886864","mag":"2129886864"},"language":"en","primary_location":{"id":"pmh:oai:RePEc:ebl:ecbull:v:6:y:2007:i:8:p:1-19","doi":null,"is_oa":false,"landing_page_url":"http://economicsbulletin.vanderbilt.edu/2007/volume6/EB-06F30024A.pdf","pdf_url":"http://economicsbulletin.vanderbilt.edu/2007/volume6/EB-06F30024A.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5101970151","display_name":"Chien-Fu Chen","orcid":"https://orcid.org/0000-0002-5606-3479","observed_orcids":["https://orcid.org/0000-0002-5606-3479","https://orcid.org/0000-0001-6223-9576"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Chien-Fu Chen","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0001-6223-9576","affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5112197681","display_name":"Chung\u2010Hua Shen","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Chung\u2010Hua Shen","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5053637425","display_name":"Chien-an Andy Wang","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Chien-an Andy Wang","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":1.7572,"has_fulltext":false,"cited_by_count":22,"citation_normalized_percentile":{"value":0.91208217,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"6","issue":"16","first_page":"1","last_page":"15"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9951000213623047,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9951000213623047,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11898","display_name":"Economics of Agriculture and Food Markets","score":0.000699999975040555,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.0006000000284984708,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/purchasing-power-parity","display_name":"purchasing power parity","score":0.9980000257492065},{"id":"https://openalex.org/keywords/big-mac-index","display_name":"Big Mac index","score":0.8460000157356262},{"id":"https://openalex.org/keywords/consumer-price-index","display_name":"consumer price index","score":0.9829999804496765},{"id":"https://openalex.org/keywords/panel-cointegration","display_name":"panel cointegration","score":0.8080000281333923},{"id":"https://openalex.org/keywords/nonstationarity","display_name":"non-stationarity","score":0.8880000114440918},{"id":"https://openalex.org/keywords/nominal-exchange-rate","display_name":"nominal exchange rate","score":0.734000027179718},{"id":"https://openalex.org/keywords/price-ratio","display_name":"price ratio","score":0.4880000054836273},{"id":"https://openalex.org/keywords/exchange-rate-determination","display_name":"exchange rate determination","score":0.46399998664855957}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.8369697332382202},{"id":"https://openalex.org/C145162277","wikidata":"https://www.wikidata.org/wiki/Q1751675","display_name":"Cointegration","level":2,"score":0.8258464932441711},{"id":"https://openalex.org/C109888216","wikidata":"https://www.wikidata.org/wiki/Q82135","display_name":"Purchasing power parity","level":3,"score":0.7290317416191101},{"id":"https://openalex.org/C178131030","wikidata":"https://www.wikidata.org/wiki/Q631360","display_name":"Price index","level":2,"score":0.6482388973236084},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.6295164227485657},{"id":"https://openalex.org/C34881761","wikidata":"https://www.wikidata.org/wiki/Q1936341","display_name":"Price level","level":2,"score":0.49853062629699707},{"id":"https://openalex.org/C69048361","wikidata":"https://www.wikidata.org/wiki/Q7310798","display_name":"Relative purchasing power parity","level":4,"score":0.4829660952091217},{"id":"https://openalex.org/C2776988154","wikidata":"https://www.wikidata.org/wiki/Q66100","display_name":"Exchange rate","level":2,"score":0.46853676438331604},{"id":"https://openalex.org/C6422946","wikidata":"https://www.wikidata.org/wiki/Q857354","display_name":"Panel data","level":2,"score":0.4476010799407959},{"id":"https://openalex.org/C185782297","wikidata":"https://www.wikidata.org/wiki/Q2142538","display_name":"Relative price","level":2,"score":0.4317992031574249},{"id":"https://openalex.org/C79850504","wikidata":"https://www.wikidata.org/wiki/Q1364085","display_name":"Law of one price","level":4,"score":0.4215260148048401},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3112640976905823},{"id":"https://openalex.org/C162889289","wikidata":"https://www.wikidata.org/wiki/Q6841075","display_name":"Mid price","level":3,"score":0.2698386609554291}],"mesh":[],"locations_count":5,"locations":[{"id":"pmh:oai:RePEc:ebl:ecbull:v:6:y:2007:i:8:p:1-19","doi":null,"is_oa":false,"landing_page_url":"http://economicsbulletin.vanderbilt.edu/2007/volume6/EB-06F30024A.pdf","pdf_url":"http://economicsbulletin.vanderbilt.edu/2007/volume6/EB-06F30024A.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"article"},{"id":"pmh:oai:RePEc:ebl:ecbull:v:6:y:2007:i:16:p:1-15","doi":null,"is_oa":false,"landing_page_url":"http://www.accessecon.com/pubs/EB/2007/Volume6/EB-07F30007A.pdf","pdf_url":"http://www.accessecon.com/pubs/EB/2007/Volume6/EB-07F30007A.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.471.2575","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.471.2575","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://www.fin.ntu.edu.tw/~chshen/publication1 article/77.Does PPP hold for Big Mac price or consumer price index.PDF","raw_type":"text"},{"id":"pmh:oai:ir.ndhu.edu.tw:987654321/4052","doi":null,"is_oa":false,"landing_page_url":"http://ir.ndhu.edu.tw/handle/987654321/4052","pdf_url":null,"source":{"id":"https://openalex.org/S7407064279","display_name":"National Dong Hwa University Institutional Repository","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":null},{"id":"mag:2129886864","doi":null,"is_oa":false,"landing_page_url":"http://accessecon.com/pubs/EB/2007/Volume6/EB-07F30007A.pdf","pdf_url":null,"source":{"id":"https://openalex.org/S134953813","display_name":"Economics bulletin","issn_l":"1545-2921","issn":["1545-2921"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-scientific","cwts-core","jufo-1","norway-1","poland-20","russia-white-list-3","vabb-shw"],"host_organization":"https://openalex.org/P4310319965","host_organization_name":"Springer Nature","host_organization_lineage":["https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Nature"],"type":"journal"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Economics bulletin","raw_type":null}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":40,"referenced_works":["https://openalex.org/W1488599363","https://openalex.org/W1587141723","https://openalex.org/W1969080827","https://openalex.org/W1978775682","https://openalex.org/W1981183884","https://openalex.org/W1983844269","https://openalex.org/W1990297783","https://openalex.org/W1994760275","https://openalex.org/W1998103941","https://openalex.org/W2005013362","https://openalex.org/W2006344690","https://openalex.org/W2011844203","https://openalex.org/W2028500418","https://openalex.org/W2031840342","https://openalex.org/W2043208740","https://openalex.org/W2047612087","https://openalex.org/W2062467289","https://openalex.org/W2086101731","https://openalex.org/W2097345965","https://openalex.org/W2097580026","https://openalex.org/W2100930860","https://openalex.org/W2110603299","https://openalex.org/W2114151293","https://openalex.org/W2117513178","https://openalex.org/W2124884000","https://openalex.org/W2153873215","https://openalex.org/W2161007982","https://openalex.org/W2162752858","https://openalex.org/W2163813833","https://openalex.org/W2168257636","https://openalex.org/W2290976713","https://openalex.org/W2890554530","https://openalex.org/W2955852100","https://openalex.org/W3022817419","https://openalex.org/W3122871899","https://openalex.org/W3123292199","https://openalex.org/W3123833473","https://openalex.org/W3124474332","https://openalex.org/W3149729600","https://openalex.org/W4237609523"],"related_works":["https://openalex.org/W7214500635","https://openalex.org/W7027047848","https://openalex.org/W7055317448","https://openalex.org/W1991906252","https://openalex.org/W4295095744","https://openalex.org/W1594034678","https://openalex.org/W2567491530","https://openalex.org/W2481564386","https://openalex.org/W2964378557","https://openalex.org/W622307594"],"abstract_inverted_index":{"This":[0],"paper":[1],"examines":[2],"the":[3,20,31,42,48,64,71,79,85,90,97,106,111,143],"validity":[4,144],"of":[5,33,36,51,145],"purchasing":[6],"power":[7],"parity":[8],"(PPP)":[9],"using":[10,115],"CPI":[11,56,125,148],"and":[12,109],"Big":[13,98,132,136],"Mac":[14,99,133,137],"prices.":[15],"The":[16,59,118],"benchmark":[17],"model,":[18],"i.e.,":[19],"OLS":[21],"method,":[22],"which":[23],"does":[24],"not":[25,76,94,130],"take":[26],"nonstationarity":[27],"into":[28],"account,":[29],"rejects":[30],"hypothesis":[32],"PPP":[34,60,91,119,146],"regardless":[35],"prices":[37],"used.":[38,102],"We":[39,150],"next":[40],"use":[41],"panel":[43,116,163],"cointegration":[44,164],"method":[45],"to":[46,142,153,161],"consider":[47],"nonstationary":[49],"nature":[50],"variables.":[52],"Estimated":[53],"results":[54],"for":[55,131,157],"are":[57,151],"mixed.":[58],"is":[61,68,75,82,92,101,120,127,139],"rejected":[62,77,95,123],"when":[63,78,96,124],"nominal":[65],"exchange":[66],"rate":[67],"employed":[69],"as":[70,84],"dependent":[72,86],"variable":[73],"but":[74,129],"price":[80,100,126,138],"ratio":[81],"used":[83,128],"variable.":[87],"By":[88],"contrast,":[89],"overwhelmingly":[93],"Last,":[103],"we":[104],"remove":[105],"production":[107],"bias":[108],"re-examine":[110],"same":[112],"issue":[113],"by":[114],"cointegration.":[117],"again":[121],"decisively":[122],"price.":[134,149],"Accordingly,":[135],"more":[140],"supportive":[141],"than":[147],"grateful":[152],"Professor":[154],"Peter":[155],"Pedroni":[156],"providing":[158],"RATS":[159],"code":[160],"implement":[162],"tests.":[165]},"counts_by_year":[{"year":2024,"cited_by_count":2},{"year":2022,"cited_by_count":1},{"year":2020,"cited_by_count":5},{"year":2019,"cited_by_count":1},{"year":2017,"cited_by_count":2},{"year":2016,"cited_by_count":3},{"year":2014,"cited_by_count":1}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2016-06-24T00:00:00"}
