Skip to main content

Advertisement

Table 4 Estimation results for the coefficient on the dollar-denominated Mexican price level: ADL models with time period dummies

From: Purchasing power parity in Mexico since 1933

ADL No IVa IV14 IV15 IV16 IV17 IV18 IV19 IV20 IV21 IV22 IV23 IV24
FMEX1 −0.0672 −0.1212 −0.1111 −0.0924 −0.0956 −0.0848 −0.0785 −0.0872 −0.0889 −0.0893 −0.0915 0.0830
−6.298 −2.105 −2.310 −2.245 −2.647 −2.665 −2.724 −3.145 −3.304 −3.486 −3.615 −3.376
FMEX2 −0.0676 −0.1215 −0.1110 −0.0921 −0.0949 −0.0840 −0.0777 −0.0865 −0.0882 −0.0887 −0.0910 0.0825
−6.321 −2.108 −2.304 −2.231 −2.624 −2.633 −2.689 −3.112 −3.270 −3.452 −3.583 −3.344
FMEX3 −0.0679 −0.1443 −0.1397 −0.1170 −0.1153 −0.0992 −0.0922 −0.1016 −0.1029 −0.1029 −0.1067 0.0977
−5.838 −1.773 −2.105 −2.155 −2.521 −2.564 −2.681 −3.052 −3.217 −3.406 −3.562 −3.384
  1. aCritical values are affected by the presence of time period dummies hence are unknown. Significant values are −1.645 at the 5% level and −2.327 at the 1% level for the IV estimations