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The prebisch-singer hypothesis: four centuries of evidence
journal contribution
posted on 2014-07-09, 09:03 authored by David I. Harvey, Neil M. Kellard, Jakob B. Madsen, Mark WoharWe 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.
History
School
- Business and Economics
Department
- Business
Published in
Review of Economics and StatisticsVolume
92Issue
2Pages
367 - 377Citation
HARVEY, D.I. ... et al., 2010. The prebisch-singer hypothesis: four centuries of evidence. Review of Economics and Statistics, 92 (2), pp. 367 - 377.Publisher
Massachusetts Institute of Technology Press (MIT Press) © The President and Fellows of Harvard College and the Massachusetts Institute of TechnologyVersion
- VoR (Version of Record)
Publication date
2010Notes
Closed access.ISSN
0034-6535eISSN
1530-9142Publisher version
Language
- en