| Description |
1 online resource (xxvii, 542 pages) : illustrations (some color) |
| Contents |
Intro -- Preface -- References -- Previous Books of Lawrence H. Officer -- Contents -- List of Figures -- List of Tables -- Part I Purchasing Power Parity: Origin and Use -- 1 Salamancans and Gerard Malynes -- 1.1 Salamanca School, Tudor Period -- 1.1.1 Salamanca School -- 1.1.2 Tudor Period -- Notes -- References -- 1.2 Malynes, Gerard De (fl. 1586-1623) -- Selected Works of Malynes -- References -- 2 Gustav Cassel -- 2.1 From Salamancans/Malynes to Cassel -- 2.2 The Impact of Cassel -- 2.3 Motivation for Cassel's PPP Theory -- 2.4 Quantity Theory of Money -- 2.5 Price-Level Concept |
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2.6 Absolute-PPP Theory -- 2.7 Relative-PPP Theory -- 2.8 Digression: Error Term in PPP Theory -- 2.9 Flexibility of PPP -- 2.10 Policy Implications -- Notes -- References -- 3 Purchasing Power Parity in Economic History -- 3.1 Introduction -- 3.2 Categorization of Purchasing-Power-Parity Theories -- 3.3 Historical Application of PPP: Premodern Periods -- 3.3.1 Ancient Period -- 3.3.2 Medieval Period -- 3.3.3 Sixteenth-Century Spain -- 3.4 Techniques of Testing PPP Theory in Economic-History Literature -- 3.4.1 Comparative-Static Computation -- 3.4.2 Regression Analysis |
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3.4.3 Testing for Causality -- 3.4.4 Nonstationarity and Spurious Regression -- 3.4.5 Testing for Stationarity -- 3.4.6 Cointegration Analysis -- 3.5 Price Variable in PPP Computations -- 3.6 Modern Period: Testing of PPP -- 3.6.1 Early North America -- 3.6.2 Bullionist Periods -- 3.6.3 Floating Rates-Second-Half of Nineteenth Century -- 3.6.4 Classic Metallic Standards -- 3.6.5 World War I -- 3.6.6 Floating Rates-1920s -- 3.6.7 1930s -- 3.6.8 Interwar Period -- 3.6.9 Spain-Long Term -- 3.6.10 Guatelmala-Long Term -- 3.7 Analysis of U.S. Return to Gold Standard in 1879 |
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3.8 Establishment and Assessment of a Fixed Exchange Rate in Interwar Period -- 3.8.1 United Kingdom -- 3.8.2 France -- 3.9 Conclusions -- Notes -- References -- 4 Afterword to Part I -- 4.1 Salamancans and Gerard Malynes (Chapter 1) -- 4.2 Gustav Cassel (Chapter 2) -- 4.3 Other Studies (Chapter 3 Extended) -- Notes -- References -- Part II Purchasing Power Parity: Empirical Studies -- 5 Absolute and Relative Purchasing Power Parity -- 5.1 The Relationship Between Absolute and Relative Purchasing Power Parity -- 5.1.1 Proof That the Restated PPP Theory Is Not a Truism |
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5.1.2 Alternative Price-Level Concepts of PPP -- 5.1.3 Empirical Analysis of the Strong PPP and Naive Models -- 5.1.4 Empirical Analysis of the Weak PPP and Naive Models -- Appendix: The Data -- Absolute PPP -- GDP Deflator -- Consumer Price Index -- Notes -- References -- 6 Law of One Price -- 6.1 The Law of One Price Cannot Be Rejected: Two Tests Based on the Tradable/Nontradable Price Ratio -- 6.1.1 Introduction -- 6.1.2 Law of One Price -- 6.1.3 Critique of Empirical Literature -- 6.1.4 A Model of PPP and the Tradable/Nontradable Price Ratio |
| Summary |
Lawrence H. Officer is a Professor in the Department of Economics at the University of Illinois at Chicago. Among his many publications are three other books published by Palgrave: A New Balance of Payments for the United States, 1790-1919 (2021); Everyday Economics (2009); and Two Centuries of Compensation for U.S. Production Workers in Manufacturing (2009). This book is the culmination of and a collection of distinguished scholar Lawrence Officers principal research over 50 years of scholarly activity. The collection consists primarily of three topics on which the author has spent the major part of his research: purchasing power parity, standard of living, and monetary standards. There is also a unique chapter on economics and economic history in science fiction. This volume is ideal for academics, graduate and undergraduate students, and practitioners |
| Bibliography |
Includes bibliographical references and indexes |
| Notes |
Online resource; title from PDF title page (SpringerLink, viewed October 18, 2022) |
| Subject |
Economic history.
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Economic history
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| Form |
Electronic book
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| ISBN |
9783030959258 |
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3030959252 |
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