{"product_id":"purchasing-power-parity-balanced-growth-periklis-gogas-9781312750142","title":"Purchasing Power Parity, Balanced Growth, and Volatility Forecasting: An Application of Recent Developments in Time Series Analysis","description":"I use recent advance in statistics and econometrics in an effort to re-test some well-known theoretical propositions, examine whether those new techniques support the theory, provide models that are better fitted to describe and forecast economic time-series. The Purchasing Power Parity theory is tested using the Fisher and Seater (1993) and King and Watson (1997) methodologies and strong evidence in support of PPP is found. I use the general class of ARCH\/GARCH processes to model financial time series in an ARIMA framework and the best fitted models outperform traditional ARIMA models in terms of the forecast variance. Finally, I test the balanced growth theory and try to estimate a money demand function using the Johansen and Juselius (1993) methodology. I do not find evidence in support of the balanced growth theory and a stable money demand function, and these results are not sensitive to different monetary aggregates that are constructed according to recent index number theory.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Periklis Gogas\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 1312750146\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9781312750142\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Lulu.com\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 12\/18\/2014\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 168\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Paperback\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 0.56lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.00h x 6.00w x 0.39d","brand":"Periklis Gogas","offers":[{"title":"Paperback","offer_id":48444536193279,"sku":"9781312750142","price":12.01,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_77c5f620-56b9-4a1c-ab4d-0c65214f8659.jpg?v=1777212919","url":"https:\/\/www.whiterainbookhouse.com\/products\/purchasing-power-parity-balanced-growth-periklis-gogas-9781312750142","provider":"WR Book House","version":"1.0","type":"link"}