Dr. WOO Kai YinDr. LEE Shu Kam2021-02-222021-02-222009Economic Modelling, Sept. 2009, vol. 26(5), pp. 1029-1032.0264-99931873-6122http://hdl.handle.net/20.500.11861/6408This paper studies the speed of price adjustments toward the intra-national PPP level within China based on half-life measurement. We calculate the point estimates of half-lives and the corresponding confidence intervals using median-unbiased estimation methods to correct for downward bias in least squares estimates. The point estimates of half-lives indicate that the speed of mean reversion toward convergence between region pairs is fast. A strong conclusion about the high speed of adjustments is, however, unwarranted in some regions where the confidence intervals for half-life estimates are much wider than others.enPeer Reviewed Journal Article10.1016/j.econmod.2009.03.009