Testing the Prebisch-Singer Hypothesis since 1650 : Evidence from Panel Techniques that Allow for Multiple Breaks »
Series: IMF Working Papers
Author(s): Rabah Arezki , Kaddour Hadri , Prakash Loungani , and Yao Rao
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 15 August 2013
Keywords: Primary, commodities, Unit, root tests, Multiple, Structural breaks, Volatility, commodity markets, price fluctuations, transport costs
In this paper, we re-examine two important aspects of the dynamics of relative primary commodity prices, namely the secular trend and the short run volatility. To do so, we employ 25 series, some of them starting a...