Arezki, Rabah; Hadri, Kaddour; Loungani, Prakash; Rao, Yao - Oxford Centre for the Analysis of Resource-Rich … - 2014
In this paper, we re-examine two important aspects of the dynamics of relative primary commodity prices, namely the secular trend and the short run volatility. To do so, we employ 25 series, some of them starting as far back as 1650 and powerful panel data stationarity tests that allow for...
