Spectral analysis is applied to the empirical identification of terms of trade cycles, in the secular evolution, 1870-2009, of a group of extreme-landabundant countries: Argentina, Australia, Canada, New Zealand, and Uruguay. Estimates of the power density spectrum functions produce...

We conjecture that extreme land abundant endowment constitutes a structural restriction driving sectoral specialization and terms of trade volatility. We estimate and compare several volatility indicators for Argentina, Australia and New Zealand in 1870-2009 finding co-movements, structural...