Özet:

The validity of the purchasing power parity in this study was tested with monthly data based on the 2000-2017 interval with the nominal exchange rate and consumer price index obtained from the OECD database for 18 OECD countries and the European Union countries.  Due to the presence of fractures in the real currency currency series used in the analysis and the line has a horizontal cutting dependency, Carrion-I Silvestre, Castro and Lopez Bazo (2005) PANKPSS unit root test was used. According to the unit root test results, the real currency currency series is stable and the absolute purchasing power parity is valid in the OECD countries. On the other hand, the analysis of the nominal currency series and the purchasing power parity was stable in the first difference, Westerlund (2006) continued with a very fragile integration. The integration test results also support the long-term validity of the Purchasing Power Parity in OECD countries.

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