Board of Governors of the Federal Reserve System

International Finance Discussion Papers

Number 465

April 1994

UNDERSTANDING THE EMPIRICAL LITERATURE ON PURCHASING POWERPARITY: THE POST-BRETTON WOODS ERA

Hali J. Edison, Joseph E. Gagnon, and William R. Melick

NOTE: International Finance Discussion Papers are preliminary materials circulated tostimulate discussion and critical comment. References in publications to International FinanceDiscussion Papers (other than an acknowledgement that the writer has had access tounpublished material) should be cleared with the author or authors.