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18. Two general conclusions can be made from the empirical tests of purchasing power parity (PPP): a. b. PPP holds up well over the long

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18. Two general conclusions can be made from the empirical tests of purchasing power parity (PPP): a. b. PPP holds up well over the long run but poorly for the short run and the theory holds better for countries with relatively high rates of ination. PPP holds up well over the short run but poorly for the long run and the theory holds better for countries with relatively low rates of ination. PPP holds up well over the short run but poorly for the long run and the theory holds better for countries with relatively high rates of ination. PPP holds up well over the long run but poorly for the short run and the theory holds better for countries with relatively low rates of ination

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