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The authors state that empirical tests of purchasing power parity have for the most part not proved PPP to be  accurate in predicting future exchange rates The authors then state that PPP does

The authors state that empirical tests of purchasing power parity "have, for the most part, not proved PPP to be 
accurate in predicting future exchange rates." The authors then state that PPP does hold up reasonably well in 
two situations. What are some reasons why PPP does not accurately predict future exchange rates, and under 
what conditions might we reasonably expect PPP to hold?

Apr 19 2021 View more View Less

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