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When the Collapse of the Bretton Woods System Began?: Evidence from the G7 Countries

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When the Collapse of the Bretton Woods System Began?: Evidence from the G7 Countries

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文書・図像類
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福本,幸男
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type:80 大阪経大学会「Working Paper」This study discusses the sustanability of the Bretton Woods system from the standpoint of the purchasing power parity. We...

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文書・図像類
Author/Editor
福本,幸男
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eng
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Note (General)
type:80 大阪経大学会「Working Paper」
This study discusses the sustanability of the Bretton Woods system from the standpoint of the purchasing power parity. We use price levels of G7 countries and examine when the persistent disparity of the price levels among the countries occurred by applying the panel unit root tests. We find that the price levels had tended to diverge since the beginning of the 1960s. Despite that inflation rates stayed at a low level throughout the world until the mid-1960s, it would appear that the price levels inform the signal of breakdown of the Bretton Woods system before then.
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