Borradores de Economia
Número:
252
Publicado:
Clasificación JEL:
C33, F21, F34
Palabras clave:
Multivariate Cointegration
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Clark Granger-Castaño, Dairo Ayiber Estrada, Valeria Salas, Jhuliana Sofía Segura-Durán
Juan Camilo Medellín-Martínez, Juan Camilo Medellín-Martínez
Jaime Alfredo Bonet-Moron, Jorge Guerra-España, Jhorland Ayala-García
This paper tests for purchasing power parity (PPP) between Colombia and its main trading partners using the Johansen framework of multivariate cointegration. The tests shows that PPP does not hold in the strong sense, but a clear purchasing power relation