摘要：This study examines whether the long-run purchasing power parity (PPP) holds in transition economies (Bulgaria, the Czech Republic, Hungary, Latvia, Lithuania, Poland, Romania and Russia) using monthly data over the 1995–2011 period. We apply a recently introduced panel stationary test, which accounts for sharp breaks and smooth shifts. The results indicate that the PPP holds only in two countries ( i.e. , Lithuania and Poland).
关键词：purchasing power parity; transition countries; panel stationary test; sharp breaks and smooth breaks; Fourier function
