مدارک و شواهد از برابری قدرت خرید بلندمدت: تجزیه و تحلیل نرخ ارز آسیایی واقعی در شرایط ین ژاپن

In this paper we find strong new evidence in favour of the long-run purchasing power parity (PPP) hypothesis in the bilateral real exchange rates between the Japanese yen and the currencies of the most important southeast Asian economies only when the presence of several possible structural breaks of the series is taken into account. Such evidence for PPP is weaker for these southeast Asian exchange rates with the US dollar, the German mark and the Australian dollar.