PPP(Purchasing Power Parity) 이론의 실효성에 관한 실증 연구

An empirical research on the validity of PPP theory

For a long time, PPP has been reputed Toward validity of PPP, supporters and critics coexist. Supporters believe that PPP plays a key role in determining an exchange rate while critics cast doubt on the validity of PPP. No one can assert whether PPP is valid at this time. The main objective of this research is not to limited within finding a validity of PPP but to provide some general direction for future researchers. To follow the objective, we, first, survey the literatures of PPP and other related papers. As a matter of fact, lots of researches have been performed since Cassel's article for PPP. Econometric methodologies also have been developed to test a validity of the PPP hypothesis. Accordingly, we see that to arrange and to organize existent researches should be requested for future research. Second, our research aims at finding some empirical results for discussion. This paper can contribute to letting people understand the trend of PPP studies and sharpen their works.