Gibson Paradox: Panel Data Analysis on ASEAN-T Countries

The existence of a long-term positive relationship between the nominal interest rate and general price level is called Gibson paradox in economics literature. In other words, according to this paradox, high prices are result rates. Studies on literature gained momentum after work (1923). main purpose study test whether valid for ASEAN-T countries with quarterly data 1993:Q1-2019:Q4. context, short long term rates consumer index variables were used study. study, which panel analysis was carried out, it first analyzed there cross-section dependency. Because dependency series, CADF unit root test, one second generation tests, used. Panel ARDL (Autoregressive Distributed Lag) bounds out due different stationarity levels series. According findings, both run. Therefore, examined period.