Testing the Prebish-Singer hypothesis using second-generation panel data stationarity tests with a break

R. Arezki; K. Hadri; E. Kurozumi; Y. Rao

doi:10.1016/j.econlet.2012.08.035

Testing the Prebish-Singer hypothesis using second-generation panel data stationarity tests with a break

R. Arezki, K. Hadri, E. Kurozumi, Y. Rao

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Abstract

In this paper, we test the Prebish-Singer (PS) hypothesis, which states that real commodity prices decline in the long run, using two recent powerful panel data stationarity tests accounting for cross-sectional dependence and a structural break. We find that the hypothesis cannot be rejected for most commodities other than oil.

Original language	English
Pages (from-to)	814-816
Number of pages	3
Journal	Economics Letters
Volume	117
Issue number	3
DOIs	https://doi.org/10.1016/j.econlet.2012.08.035
Publication status	Published - 01 Dec 2012

ASJC Scopus subject areas

Finance
Economics and Econometrics

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10.1016/j.econlet.2012.08.035

Testing the Prebish Singer hypothesis using second generation panel data stationarity tests with a break
This is the author’s version of a work that was accepted for publication in Economics Letters. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Economics Letters, VOL 117, ISSUE 3, 12/2012
Accepted author manuscript, 263 KB

Cite this

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Testing the Prebish-Singer hypothesis using second-generation panel data stationarity tests with a break

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