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Purchasing power parity is central to exchange rate economics. This research review assesses a select set of classic papers on the subject. Individually and jointly, these studies have provoked heated debates on the validity of purchasing power parity, thereby making scholarly contributions towards analysing exchange rate puzzles. The findings have been profoundly influential in the conduct of monetary policy and business. This review provides a solid and succinct foundation for future research into the subject and is essential reference for scholars, researchers and policymakers alike.
Michael G. Plummer
Essays in Honor of Mordechai Kreinin
Edited by Michael G. Plummer
Internationalization of the world economy has made trade a key factor in the growth potential of nearly every nation’s economy. Hence, economists have become increasingly interested in the determinants of international trade and competitiveness. Empirical Methods in International Trade captures the many aspects of this trend in globalization through practical techniques well-founded in economic theory. The authors, comprising some of the most influential applied international economists of their generation, use cutting-edge models to develop empirical approaches to critical aspects of economic interchange. These approaches are developed and explained carefully with the goal of making them accessible to a wide audience.