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The Purchasing Power Parity Puzzle Kenneth …

The Purchasing Power Parity PuzzleKenneth RogoffJournal of Economic literature , Vol. 34, No. 2. (Jun., 1996), pp. URL: of Economic Literatureis currently published by American Economic use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtainedprior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content inthe JSTOR archive only for your personal, non-commercial contact the publisher regarding any further use of this work. Publisher contact information may be obtained copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printedpage of such JSTOR Archive is a trusted digital repository providing for long-term preservation and access to leading academicjournals and scholarly literature from around the world.

Journal of Economic Literature Vol. XXXIV (June 1996), pp. 647-668 The Purchasing Power Parity Puzzle KENNETHROGOFF Princeton University I am grateful to Rudiger Dornbusch, Hali Edison, ]ohn Rogers, Susanne Trimbath, and to

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