| 单词 | purchasing power parity theory |
| 释义 | > as lemmaspurchasing power parity theory purchasing power parity n. Economics parity between two currencies at a rate of exchange that gives each currency exactly the same purchasing power in its own economy; also attributive in purchasing power parity theory. ΚΠ 1918 G. Cassel in Econ. Jrnl. Dec. 413 At every moment the real parity between two countries is represented by this quotient between the purchasing power of the money in the one country and the other. I propose to call this parity ‘the purchasing power parity’. 1939 I. De Vegh Pound Sterling ii. 75 This point of view, known as the purchasing power parity theory, rests fundamentally on the assumption that a change in the internal purchasing power of a currency will, under certain conditions, affect the merchandise balance of the country involved. 1992 Economist 3 Oct. 104/3 It is already overvalued, relative to its purchasing-power parity (PPP), by a bigger margin than any other major currency. < as lemmas |
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