Application of Panel Data Models to Exchange Rates’ Modeling for Scandinavian and Central and Eastern European Countries
Journal Title: Dynamic Econometric Models - Year 2009, Vol 9, Issue 1
Abstract
In the paper the purchasing power parity (PPP) theory for 6 states belonging to OECD, namely Denmark, Norway, Sweden, Poland, Czech Republic and Hungary, was examined. In order to do that the IPS panel unit root test was employed. After establishing that the exchange rates permanently deviate from the long-term equilibrium rate and the PPP theory is at variance with the data, two panel models were estimated to identify factors that influence exchange rates of Scandinavian and CEFTA countries.
Authors and Affiliations
Dorota Górecka, Dominik Śliwicki
Keywords
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