Re-testing Prebisch-Singer hypothesis: new evidence using Fourier quantile unit root test

被引：22
|
作者：
Bahmani-Oskooee, Mohsen [1 ,2 ]
Chang, Tsangyao [3 ]
Elmi, Zahra [4 ]
Ranjbar, Omid [5 ,6 ]
机构：
[1] Univ Wisconsin Milwaukee, Ctr Res Int Econ, Milwaukee, WI 53201 USA
[2] Univ Wisconsin Milwaukee, Dept Econ, Milwaukee, WI 53201 USA
[3] Feng Chia Univ, Dept Finance, Taichung, Taiwan
[4] Univ Mazandaran, Fac Econ, Babol Sar, Iran
[5] Allameh Tabatabai Univ, Dept Econ, Tehran, Iran
[6] Trade Promot Org Iran, Tehran, Iran
来源：
APPLIED ECONOMICS | 2018年 / 50卷 / 04期
关键词：
Prebisch-Singer hypothesis; quantile unit root test; smooth breaks; Fourier function; PRIMARY COMMODITY PRICES; LONG-RUN TRENDS; TERMS; TRADE; COUNTRIES; ROBUST; NUMBER; PPP;
D O I：
10.1080/00036846.2017.1332751
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The Prebisch-Singer hypothesis in economics asserts that over time the relative price of primary goods relative to manufactured goods should experience a downward trend. To test the hypothesis, we must first establish the unit root properties of the relative price term and then regress the stationary series on a trend term. We use the quantile unit root test which allows for both smooth unknown numbers and the form of breaks in the trend function through a Fourier function to show that the relative price of 23 out of 24 primary goods is stationary. However, the Prebisch-Singer hypothesis is supported only in half of the primary commodities.
引用
收藏
页码：441 / 454
页数：14
相关论文
共 42 条
  • [21] Revisiting purchasing power parity in the ASEAN-5 countries: evidence from the Fourier quantile unit root test
    Bahramian, Pejman
    Saliminezhad, Andisheh
    APPLIED ECONOMICS LETTERS, 2021, 28 (13) : 1104 - 1109
  • [22] Examining the Dynamics of India's Major Exchange Rates Using Fourier Nonlinear Quantile Unit Root Test
    Kathuria, Khyati
    Kumar, Nand
    ASIA-PACIFIC FINANCIAL MARKETS, 2024,
  • [23] Testing the inflation rates in MENA countries: Evidence from quantile regression approach and seasonal unit root test
    Bolat, Suleyman
    Tiwari, Aviral Kumar
    Kyophilavong, Phouphet
    RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 2017, 42 : 1089 - 1095
  • [24] The Random Walk Hypothesis in Emerging Stock Market-Evidence from Nonlinear Fourier Unit Root Test
    Oskooe, Seyyed Ali Paytakhti
    WORLD CONGRESS ON ENGINEERING, WCE 2011, VOL I, 2011, : 418 - 422
  • [25] Testing the persistence of shocks on renewable energy consumption: Evidence from a quantile unit-root test with smooth breaks
    Lee, Chien-Chiang
    Ranjbar, Omid
    Lee, Chi-Chuan
    ENERGY, 2021, 215
  • [26] Testing the persistence of shocks on renewable energy consumption: Evidence from a quantile unit-root test with smooth breaks
    Lee, Chien-Chiang
    Ranjbar, Omid
    Lee, Chi-Chuan
    Energy, 2021, 215
  • [27] Testing the validity of quasi PPP hypothesis: evidence from a recent panel unit root test with structural breaks
    Guloglu, Bulent
    Ispir, Serdar
    Okat, Deniz
    APPLIED ECONOMICS LETTERS, 2011, 18 (18) : 1817 - 1822
  • [28] Asymmetric persistence in Turkish interest and inflation rates: New evidence from quantile unit root test with structural shifts
    Nazlioglu, Saban
    Gurel, Sinem Pinar
    Gunes, Sevcan
    Karul, Cagin
    INTERNATIONAL JOURNAL OF FINANCE & ECONOMICS, 2024, 29 (04) : 3831 - 3839
  • [29] TESTING THE UNEMPLOYMENT HYSTERESIS IN G7 COUNTRIES: A FRESH EVIDENCE FROM FOURIER THRESHOLD UNIT ROOT TEST
    YILANCI, Veli
    OZKAN, Yilmaz
    ALTINSOY, Abdulkadir
    ROMANIAN JOURNAL OF ECONOMIC FORECASTING, 2020, 23 (03): : 49 - 59
  • [30] CO2 emissions converge in China and G7 countries? Further evidence from Fourier quantile unit root test
    Ye, Cuihong
    Chen, Yiguo
    Inglesi-Lotz, Roula
    Chang, Tsangyao
    ENERGY & ENVIRONMENT, 2020, 31 (02) : 348 - 363
12345