The Purchasing-Power Parity Doctrine: A Reappraisal

@inproceedings{Balassa1964ThePP,
  title={The Purchasing-Power Parity Doctrine: A Reappraisal},
  author={B{\'e}la Balassa},
  year={1964}
}
5_HIE purchasing-power parity doctrine has had its ebbs and flows I over the years. Interest in the doctrine arose whenever existing exchange rates were considered unrealistic and the search began for the elusive concept of equilibrium rates. It was first invokedalthough in somewhat ambiguous terms -in the period of the Napoleonic wars,' it received its christening at the hands of Gustav Cassel during World War I,2 and it was resurrected after World War II.3 It has also had its critics, among… CONTINUE READING

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1921), p. 36, and "The International Movements of Capital," in Foreign Investments, Lectures

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