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Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Purchasing Power Parity

The theory stating that, in an efficient market, the exchange rate of two currencies results in equal purchasing power. That is, if one pound is worth two dollars, one pound in England should buy the same amount in goods and services that two dollars can buy in the United States. Fixed exchange rates, taxes, and other inefficiencies are thought to disrupt purchasing power parity. Some theorists believe the idea holds most true when comparing countries or regions with similar standards of living.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Chairman Pakistan People's Party, Bilawal Bhutto Zardari, has said that former Prime Minister Nawaz Sharif had been attacking eighteenth constitutional amendment for the last five years.
Shahbaz, according to sources told the Pakistan People's Party leaders that there must be totally impartial person for the slot of President.
Amin Fahim further said that Pakistan People's Party has been deprived from a devoted worker.
He clarified that the president Asif Ali Zardari was co-chairman of the Pakistan People's Party (PPP) which was not a political party as it was neither registered with the Election Commission of Pakistan and nor it field candidates in the elections.
He said Chairman of Pakistan People's Party Bilawal Bhutto represents the youth.
Raja Pervez Ashraf said conspiracies were always hatched to snatch the mandate of Pakistan People's Party. He said now no one will be allowed to commit a dacoity on the mandate of the people.
ISLAMABAD -- Prime Minister Raja Pervez Ashraf on Wednesday said Pakistan People's Party, having a history of struggle and great sacrifices for democracy, will continue to strive for strengthening of democratic system, which not only ensures the rule of common man, but is well-recognized at international level."From Shaheed Zulfikar Ali Bhutto to Shaheed Mohtarma Benazir Bhutto and Co-Chairman PPP President Asif Ali Zardari, Pakistan People's Party has a history of struggle and sacrifices for democracy," Prime Minister Ashraf said while addressing the PPP's parliamentary party meeting here at the PM House.
He said the Parliament is completing its constitutional term which is a singular achievement in the face of multifaceted challenges to democracy and despite the fact that Pakistan People's Party did not even have a simple majority.
ISLAMABAD -- Minister of State for Information and Broadcasting, Syed Samsam Bukhari on Monday said that Pakistan People's Party always respected the judiciary and its verdicts.
He said the struggle and sacrifices of Pakistan People's Party created political sense and wisdom among the people and political forces, adding, "before the leadership of Shaheed Zulfikar Ali Bhutto, a common man in Pakistan had nothing to do with politics." Prime Minister Ashraf said it was the fruit of democracy that a political worker like him has been elected as the Prime Minister of Pakistan.
The Pakistan People's Party workers in various cities celebrated the 57th birthday of the President by arranging different programmes on the occasion.
ISLAMABAD -- Punjab Chief Minister Mian Shahbaz Sharif is promoting hatred among the federating units and he should better pay heed to resolve the problems of striking young doctors, said Secretary Finance of Pakistan People's Party and Political Advisor to the President Ms Rukhsana Bangash on Thursday.

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