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Dead Planet, Living Planet: Biodiversity and Ecosystem Restoration for Sustainable Development

Dead Planet, Living Planet: Biodiversity and Ecosystem Restoration for Sustainable Development

Date: 2010
Creator: Nelleman, Christian & Corcoran, Emily
Description: This report discusses some vital services that natural ecosystems contribute to human health and development.
Contributing Partner: UNT Libraries
Purchasing Power Parity and the Efficient Markets: the Recent Empirical Evidence

Purchasing Power Parity and the Efficient Markets: the Recent Empirical Evidence

Date: December 1988
Creator: Yuyuenyongwatana, Robert P. (Robert Privat)
Description: The purpose of the study is to empirically determine the relevance of PPP theory under the traditional arbitrage and the efficient markets (EPPP) frameworks during the recent floating period of the 1980s. Monthly data was collected for fifteen industrial nations from January 1980 to December 1986. The models tested included the short-run PPP, the long-run PPP, the EPPP, the EPPP with deviations from expectations, the forward rates as unbiased estimators of future spot rates, the EPPP and the forward rates, and the EPPP with forward rates and lagged values. A generalized regression method called Seemingly Unrelated Regression (SUR) was employed to test the models. The results support the efficient markets approach to PPP but fail to support the traditional PPP in both the short term and the long term. Moreover, the forward rates are poor and biased predictors of the future spot rates. The random walk hypothesis is generally supported.
Contributing Partner: UNT Libraries