The long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approach

"This paper examines the Prebisch and Singer hypothesis using a panel of twenty-four commodity prices from 1900 to 2010. The modelling approach stems from the need to meet two key concerns: (i) the presence of cross-sectional dependence among commodity prices; and (ii) the identification of pot...

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Autores Principales: Iregui, Ana María, Otero, Jesús
Formato: Artículo (Article)
Lenguaje:Inglés (English)
Publicado: 2013
Materias:
Acceso en línea:https://repository.urosario.edu.co/handle/10336/22847
https://doi.org/10.1007/s10258-012-0086-3
id ir-10336-22847
recordtype dspace
spelling ir-10336-228472021-01-21T08:23:59Z The long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approach Iregui, Ana María Otero, Jesús Cross section dependence Panel stationarity Prebisch and singer hypothesis Structural change "This paper examines the Prebisch and Singer hypothesis using a panel of twenty-four commodity prices from 1900 to 2010. The modelling approach stems from the need to meet two key concerns: (i) the presence of cross-sectional dependence among commodity prices; and (ii) the identification of potential structural breaks. To address these concerns, the Hadri and Rao (Oxf Bull Econ Stat 70:245-269, 2008) test is employed. The findings suggest that all commodity prices exhibit a structural break whose location differs across series, and that support for the Prebisch and Singer hypothesis is mixed. Once the breaks are removed from the underlying series, the persistence of commodity price shocks is shorter than that obtained in other studies using alternative methodologies. © 2013 ISEG." 2013 2020-05-25T23:58:21Z info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion 1617982X https://repository.urosario.edu.co/handle/10336/22847 https://doi.org/10.1007/s10258-012-0086-3 eng info:eu-repo/semantics/openAccess application/pdf instname:Universidad del Rosario reponame:Repositorio Institucional EdocUR
institution EdocUR - Universidad del Rosario
collection DSpace
language Inglés (English)
topic Cross section dependence
Panel stationarity
Prebisch and singer hypothesis
Structural change
spellingShingle Cross section dependence
Panel stationarity
Prebisch and singer hypothesis
Structural change
Iregui, Ana María
Otero, Jesús
The long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approach
description "This paper examines the Prebisch and Singer hypothesis using a panel of twenty-four commodity prices from 1900 to 2010. The modelling approach stems from the need to meet two key concerns: (i) the presence of cross-sectional dependence among commodity prices; and (ii) the identification of potential structural breaks. To address these concerns, the Hadri and Rao (Oxf Bull Econ Stat 70:245-269, 2008) test is employed. The findings suggest that all commodity prices exhibit a structural break whose location differs across series, and that support for the Prebisch and Singer hypothesis is mixed. Once the breaks are removed from the underlying series, the persistence of commodity price shocks is shorter than that obtained in other studies using alternative methodologies. © 2013 ISEG."
format Artículo (Article)
author Iregui, Ana María
Otero, Jesús
author_facet Iregui, Ana María
Otero, Jesús
author_sort Iregui, Ana María
title The long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approach
title_short The long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approach
title_full The long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approach
title_fullStr The long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approach
title_full_unstemmed The long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approach
title_sort long-run behaviour of the terms of trade between primary commodities and manufactures: a panel data approach
publishDate 2013
url https://repository.urosario.edu.co/handle/10336/22847
https://doi.org/10.1007/s10258-012-0086-3
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