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Title: | The prebisch-singer hypothesis: four centuries of evidence |
Authors: | Harvey, David I. Kellard, Neil M. Madsen, Jakob B. Wohar, Mark E. |
Issue Date: | 2010 |
Publisher: | Massachusetts Institute of Technology Press (MIT Press) © The President and Fellows of Harvard College and the Massachusetts Institute of Technology |
Citation: | HARVEY, D.I. ... et al., 2010. The prebisch-singer hypothesis: four centuries of evidence. Review of Economics and Statistics, 92 (2), pp. 367 - 377. |
Abstract: | We employ a unique data set and new time-series techniques to reexamine the existence of trends in relative primary commodity prices. The data set comprises 25 commodities and provides a new historical perspective, spanning the seventeenth to the twenty-first centuries. New tests for the trend function, robust to the order of integration of the series, are applied to the data. Results show that eleven price series present a significant and downward trend over all or some fraction of the sample period. In the very long run, a secular, deteriorating trend is a relevant phenomenon for a significant proportion of primary commodities. © 2010 The President and Fellows of Harvard College and the Massachusetts Institute of Technology. |
Description: | Closed access. |
Version: | Published |
DOI: | 10.1162/rest.2010.12184 |
URI: | https://dspace.lboro.ac.uk/2134/15153 |
Publisher Link: | http://dx.doi.org/10.1162/rest.2010.12184 |
ISSN: | 0034-6535 |
Appears in Collections: | Closed Access (Business School)
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