The ASEAN experience of the purchasing power parity theory

We used panel data analysis to evaluate the relative purchasing power parity(PPP)hypothesis of the ten ASEAN member countries between 1973 and 2015.We incorporated the cross-sectionally augmented panel unit root test as proposed by Pesaran(J Appl Econ 22:265-312,2007).For panel cointegration analysis,we employed the four error-correction-based Westerlund(Oxf Bull Econ Stat 69:709-748,2007)panel cointegration tests.The Westerlund(Oxf Bull Econ Stat 69:709-748,2007)tests are general enough to permit a large degree of heterogeneity,both in the long-run cointegrating relationship and in the short-run dynamics,and dependence within as well as across the cross-sectional units.To check the robustness of the results,we further estimated the cointegration test excluding Indonesia and Brunei.The findings support our initial results.Further,all the results overwhelmingly support the relative PPP hypothesis.Consequently,the monetary authority would be able to implement a self-regulating monetary policy.It would also be able to control the exchange rates.

Is the Purchasing Power Parity Supported by the Data？

This report mainly examines whether the Purchasing Power Parity （PPP） theory is supported by the data. The data used in the report contains the exchange rate of US dollar against New Zealand dollar, Consumer Price Index （CPI） of the US, and Consumer Price Index of New Zealand. The time period of the data is from September 30th, 1914 to March 31st, 2010, the data were collected quarterly. Mathematical regressions and graphs are contained in the research. In this research, the simplified form of the PPP theory is analyzed, and then there is a comparison between the spotted exchange rates and the expected exchange rates. Finally, the observation on long-run PPP is explained. The key conclusion of this research is that, the PPP theory is not supported by the data, however, the long-run PPP does hold.

A Comparison of Purchasing Power Parity between China and Japan

In this paper, the difference of income and consumption levels between Chinese and Japanese town dwellers＇ is compared, based on the purchasing power parity of each currency. The results using a historical series of the data and cross section data of the two countries are shown. And whenever the classification of Chinese and Japanese data is inconsistent, we reclassify Chinese material according to the Japanese classification.

Burden of celiac disease in the Mediterranean area

AIM: To estimate the burden of undiagnosed celiac disease (CD) in the Mediterranean area in terms of morbidity, mortality and health cost. METHODS: For statistics regarding the population of each country in the Mediterranean area, we accessed authoritative international sources (World Bank, World Health Organization and United Nations). The prevalence of CD was obtained for most countries from published reports. An overall prevalence rate of 1% cases/total population was finally estimated to represent the frequency of the disease in the area, since none of the available conf idence intervals of the reported rates significantly excluded this rate. The distribution of symptoms and complications was obtained from reliable reports in the same cohort. A standardized mortality rate of 1.8 was obtained from recent reports. Crude health cost was estimated for the years between symptoms and diagnosis for adults and children, and was standardized for purchasing power parity to account for the different economic prof iles amongst Mediterranean countries. RESULTS: In the next 10 years, the Mediterranean area will have about half a billion inhabitants, of which 120 million will be children. The projected number of CD diagnoses in 2020 is 5 million cases (1 million celiac children), with a relative increase of 11% compared to 2010. Based on the 2010 rate, there will be about 550 000 symptomatic adults and about 240 000 sick children: 85% of the symptomatic patients will suffer from gastrointestinal complaints, 40% are likely to have anemia, 30% will likely have osteopenia, 20% of children will have short stature, and 10% will have abnormal liver enzymes. The estimated standardized medical costs for symptomatic celiac patients during the delay between symptom onset and diagnosis (mean 6 years for adults, 2 years for children) will be about €4 billion (€387 million for children) over the next 10 years. A delay in diagnosis is expected to increase mortality: about 600 000 celiac patients will die in the next 10 years, with an excess of 44.4% vs age-and sexmatched controls. CONCLUSION: In the near future, the burden of CD will increase tremendously. Few Mediterranean countries are able to face this expanding epidemic alone.