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Applied Economics Letters Volume 15, 2008 - Issue 4
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Original Articles

The purchasing power parity hypothesis in Turkey: evidence from nonlinear STAR error correction models

Zeynel Abidin Ozdemir Faculty of Economics and Administrative Sciences, Department of Economics, Gazi University, Ankara, Turkey E-mail: [email protected]
Pages 307-311 | Published online: 25 Feb 2008
 
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Abstract

This study re-examines the validity of long-run purchasing power parity (PPP) hypothesis for Turkey using nonlinear cointegration technique. The finding of this article provides the evidence that the long run PPP hypothesis is valid by using nonlinear cointegration technique. This finding argues the validity of the long-run PPP hypothesis in bilateral Turkish real exchange rates with the USA, which is also supported by Sarno (Citation2000) and Erlat (Citation2004).

Notes

1 In order to see the developments in exchange rate in Turkish economy, see Berument (Citation2007).

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