Purchasing Power Parity (PPP) remains a cornerstone of international economics, positing that in the long run exchange rates should adjust so that identical goods and services cost the same across ...

The study of Purchasing Power Parity (PPP) and price index analysis provides a framework for comparing the real value of currencies and the underlying levels of prices across different economies and ...

Data on international relative prices from industrialized countries show large and systematic deviations from relative purchasing power parity. We embed a model of imperfect competition and variable ...