9 research outputs found
Are real exchange rates of Papua New Guinea mean-reverting? Evidence from panel unit root tests
This article examines mean-reversion of real exchange rates of Papua New Guinea (PNG), which is the crucial condition for purchasing power parity (PPP) to hold. Taking a departure from the most previous studies, we used six panel unit root tests to investigate the empirical validity of the PPP hypothesis to PNG. Both the preliminary analysis performed by examining time series plots of real exchange rates and the results of the panel unit root tests indicate that the PPP does not hold for PNG. These results may be attributed to frictions, such as transportations costs, prevailing in international trade that lead PPP to follow a nonlinear stochastic process. This issue will be investigated in future research.
Toward a technology of treatment individualization for young children with autism spectrum disorders
Marxism and the Peasantry in Latin America: Marginalization or Mobilization?
The capitalist stage of history has concentrated an increasing proportion of its productive mechanisms in urban areas. As Marx predicted, Western capitalist development has broken down rural society and turned peasants and small farmers into an ever-increasing rural and urban proletariat. As this process developed, Western modes of production have increasingly reflected this growing urban emphasis. Intellectual production is no exception