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Long-run PPP under the presence of near-to-unit roots: The case of the British Pound-US dollar rate
(2009)
Empirical tests typically provide evidence that the British pound-US dollar exchange rate and the relative wholesale price index contain exact unit roots and exhibit cointegration. However, the cointegrating vector is ...
Estimates of the black economy based on consumer demand approaches
(2004)
We propose a consumer demand system approach to estimating the size of the black economy where alternative hypotheses affecting the empirical results can be tested in a nested framework. This approach allows for the ...