Detail Purchasing Power Parity Dalam Jangka Panjang : Studi Kasus Indonesia dan Australia   Oleh:  Basri, Muhammad Chatib Jenis: Article from Bulletin/Magazine Dalam koleksi: Bisnis dan ekonomi politik vol. 1 no. 1 (1997), page 40-54. Topik: purchasing power; purchasing power parity; jangka panjang Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: BB52.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel This paper will test the validity of purchasing power parity (PPP) hypothesis in the long - run using the data on wholesaler's price index (WPI) of indonesia and australia. A high - level of trade protection policy in both countries provides an exemplary opportunity to test the hypothesis based on the U. S. dollar and japanese yen. The paper will employ the cointegration test using dickey - fuller test, and also perron test to capture the structural change that might occur in the time - series analysis. The result of unit - root test shows that all variables are integrated in the first order. The cointegration test shows that the natural exchange rate (LER) and domestic price differentials (LDP) are not cointegrated. The test using real exchange rate also indicates that LER nad LDP are non - stationary. These results imply that the PPP hypothesis does not apply for long - term equilibrium in indonesia and in australia. However, one should intepret these results with cautions not because of the weakness of the PPP theory, but due to the difference in the nature of protection and the data structure. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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