Commodity and Manufactures Prices in the Long Run /

The low level of primary commodity prices since 1985 is examined in the context of the behavior of those prices relative to prices of manufactured goods since 1854. The Prebisch-Singer hypothesis of a secular decline in relative commodity prices is sustained, but the recent decline is shown to be we...

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Xehetasun bibliografikoak
Egile nagusia: Boughton, James
Formatua: Aldizkaria
Hizkuntza:English
Argitaratua: Washington, D.C. : International Monetary Fund, 1991.
Saila:IMF Working Papers; Working Paper ; No. 1991/047
Sarrera elektronikoa:Full text available on IMF
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020 |z 9781451972856 
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100 1 |a Boughton, James. 
245 1 0 |a Commodity and Manufactures Prices in the Long Run /  |c James Boughton. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 1991. 
300 |a 1 online resource (40 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a The low level of primary commodity prices since 1985 is examined in the context of the behavior of those prices relative to prices of manufactured goods since 1854. The Prebisch-Singer hypothesis of a secular decline in relative commodity prices is sustained, but the recent decline is shown to be well outside the realm of historical experience. Commodity and manufactures prices are found to be cointegrated, conditional on the negative trend and a number of unexplained short-term swings. The earlier finding of a Gibson paradox is explained in terms of the difference between short- and long-run relationships. 
538 |a Mode of access: Internet 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1991/047 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1991/047/001.1991.issue-047-en.xml  |z IMF e-Library