Iregui, Ana; Otero, Jesús - In: Portuguese Economic Journal 12 (2013) 1, pp. 35-56
This paper examines the Prebisch and Singer hypothesis using a panel of twenty-four commodity prices from 1900 to 2010. The modelling approach stems from the need to meet two key concerns: (i) the presence of cross-sectional dependence among commodity prices; and (ii) the identification of...