Do International Relative Commodity Prices Support the Prebisch-Singer Hypothesis? A Nonlinear Panel Unit Root Testing

@inproceedings{Aslan2018DoIR,
  title={Do International Relative Commodity Prices Support the Prebisch-Singer Hypothesis? A Nonlinear Panel Unit Root Testing},
  author={Murat Aslan and Saban Nazlioglu},
  year={2018}
}
This study investigates whether shocks to the real international commodity prices are transitory or permanent within the context of the recent developments in panel unit root testing procedures. We employ a composite panel unit root procedure -incorporates nonlinearity, gradual structural shifts, and cross-section dependency- with a sequential panel selection model which classifies stationary and non-stationary series in the panel. The analysis covering 24 real commodity prices for 1900-2010… CONTINUE READING

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