"Aggregation bias" does explain the PPP puzzle:
"This article summarizes our views on the role of an "aggregation bias" in explaining the PPP (i.e. purchasing power parity) Puzzle, in response to the several papers recently written in reaction to our initial contribution. We discuss in particular the criticisms of Imbs, Mumtaz, Rav...
Saved in:
| Format: | Book |
|---|---|
| Language: | English |
| Published: |
Cambridge, Mass.
National Bureau of Economic Research
2005
|
| Series: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
11607 |
| Subjects: | |
| Online Access: | Volltext |
| Summary: | "This article summarizes our views on the role of an "aggregation bias" in explaining the PPP (i.e. purchasing power parity) Puzzle, in response to the several papers recently written in reaction to our initial contribution. We discuss in particular the criticisms of Imbs, Mumtaz, Ravn and Rey (2002) presented in Chen and Engel (2005). We show that their contentions are based on: (i) analytical counter-examples which are not empirically relevant; (ii) simulation results minimizing the extent of "aggregation bias"; (iii) unfounded claims on the impact of measurement errors on our results; and (iv) problematic implementation of small-sample bias corrections. We conclude, as in our original paper, that "aggregation bias" goes a long way towards explaining the PPP puzzle"--National Bureau of Economic Research web site. |
| Physical Description: | 26, [6] S. graph. Darst. |
Staff View
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| index_date | 2024-07-02T13:52:06Z |
| indexdate | 2024-07-09T20:35:04Z |
| institution | BVB |
| language | English |
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| physical | 26, [6] S. graph. Darst. |
| publishDate | 2005 |
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| publisher | National Bureau of Economic Research |
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| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| spelling | "Aggregation bias" does explain the PPP puzzle Jean Imbs ... Cambridge, Mass. National Bureau of Economic Research 2005 26, [6] S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 11607 "This article summarizes our views on the role of an "aggregation bias" in explaining the PPP (i.e. purchasing power parity) Puzzle, in response to the several papers recently written in reaction to our initial contribution. We discuss in particular the criticisms of Imbs, Mumtaz, Ravn and Rey (2002) presented in Chen and Engel (2005). We show that their contentions are based on: (i) analytical counter-examples which are not empirically relevant; (ii) simulation results minimizing the extent of "aggregation bias"; (iii) unfounded claims on the impact of measurement errors on our results; and (iv) problematic implementation of small-sample bias corrections. We conclude, as in our original paper, that "aggregation bias" goes a long way towards explaining the PPP puzzle"--National Bureau of Economic Research web site. Ökonometrisches Modell Foreign exchange rates Econometric models Imbs, Jean Sonstige (DE-588)124935273 oth Mumtaz, Haroon Sonstige (DE-588)124935249 oth Ravn, Morten O. 1964- Sonstige (DE-588)114557489 oth Rey, Hélène Sonstige (DE-588)124546838 oth Erscheint auch als Internetausgabe National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 11607 (DE-604)BV002801238 11607 http://papers.nber.org/papers/w11607.pdf kostenfrei Volltext |
| spellingShingle | "Aggregation bias" does explain the PPP puzzle National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Ökonometrisches Modell Foreign exchange rates Econometric models |
| title | "Aggregation bias" does explain the PPP puzzle |
| title_auth | "Aggregation bias" does explain the PPP puzzle |
| title_exact_search | "Aggregation bias" does explain the PPP puzzle |
| title_exact_search_txtP | "Aggregation bias" does explain the PPP puzzle |
| title_full | "Aggregation bias" does explain the PPP puzzle Jean Imbs ... |
| title_fullStr | "Aggregation bias" does explain the PPP puzzle Jean Imbs ... |
| title_full_unstemmed | "Aggregation bias" does explain the PPP puzzle Jean Imbs ... |
| title_short | "Aggregation bias" does explain the PPP puzzle |
| title_sort | aggregation bias does explain the ppp puzzle |
| topic | Ökonometrisches Modell Foreign exchange rates Econometric models |
| topic_facet | Ökonometrisches Modell Foreign exchange rates Econometric models |
| url | http://papers.nber.org/papers/w11607.pdf |
| volume_link | (DE-604)BV002801238 |
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