Purchasing Power Parity in the BRICS and the MIST Countries: Sequential Panel Selection Method
作者： Mohsen Bahmani-Oskooee , Tsangyao Chang , Kuei-Chiu Lee
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摘要: The Sequential Panel Selection Method (SPSM) procedure is applied to the real effective exchange rates of BRICS (Brazil, Russia, India, China, and South Africa) MIST (Mexico, Indonesia, Korea Turkey) countries, using monthly data over period 1994-2012. While several panel unit root tests give us mixed results, SPSM classifies whole into a group stationary series non-stationary series, identifying within panel. Empirical results from that uses KSS test with Fourier function indicate mean-reversion in holds true for these two groups countries under study.
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