The main goal of this article is to provide an answer to the question: does anything forecast
exchange rates, and if so, which variables? It is well known that exchange rate fluctuations …

China is currently the world's largest carbon emitter. As a large agricultural country,
understanding the relationship between carbon emissions, economic growth and energy …

The present manuscript surveys the validity of economic performance per capita–Carbon
Dioxide (CO 2) emissions equivalent relationship covering the sector of agriculture for three …

Existing point estimates of half-life deviations from purchasing power parity (PPP), around 3–
5 years, suggest that the speed of convergence is extremely slow. This article assesses the …

We investigate two alternative versions of Purchasing Power Parity (PPP): reversion to a
constant mean in the spirit of Cassel and reversion to a constant trend in the spirit of Balassa …

This textbook presents all major topics in international monetary theory, foreign exchange
markets, international financial management and investment analysis. It focuses on real …

Most panel unit root tests are designed to test the joint null hypothesis of a unit root for each
individual series in a panel. After a rejection, it will often be of interest to identify which series …

We investigate the empirical performance of the Bai and Perron multiple structural change
tests and show that the use of their critical values may cause severe size distortions in …

The relationship between consumption expenditure and economic growth has occupied a
great deal of interest among the policymakers and economists in macroeconomic research …

The ''purchasing power parity puzzle''is the difficulty of reconciling very high short-term
volatility of real exchange rates with very slow rates of mean reversion. The strongest …