TY  - BOOK
AU  - Taylor,Mark P.
TI  - Long-Run Purchasing Power Parity and the Dollar-Sterling Exchange Rate in the 1920's
T2  - IMF Working Papers; Working Paper
SN  - 1451940564 :
SN  - 1018-5941
PY  - 1990///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Cointegration
KW  - imf
KW  - Econometric Analysis
KW  - Linear Trend
KW  - Time Series
KW  - United Kingdom
N2  - This paper replies to Ahking's (1990) re-examination of Taylor and McMahon's (1988) analysis of long-run purchasing power parity in the 1920s. We demonstrate that Ahking's conclusions are only partially correct and reestablish our conclusion that, a form of long-run purchasing-power parity did in fact hold for dollar-sterling during this period. The new results are also employed to gauge the degree of overvaluation of sterling relative to the imposed prewar parity of
UR  - http://elibrary.imf.org/view/IMF001/04333-9781451940565/04333-9781451940565/04333-9781451940565.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451940565
ER  -