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

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

Research output: Contribution to journalArticle

6 Citations (Scopus)
466 Downloads (Pure)

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 languageEnglish
Pages (from-to)814-816
Number of pages3
JournalEconomics Letters
Volume117
Issue number3
DOIs
Publication statusPublished - 01 Dec 2012

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics

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