آزمون برابری قدرت خرید بر اساس بزرگترین جزء اصلی در نرخ واقعی ارز اقتصادهای اصلی OECD

A unit root test is used to reject non-stationarity of the largest principal component of nine OECD bilateral real exchange rates over the recent float. Hence, support for purchasing power parity (PPP) over this period is obtained using a standard classical hypothesis test.