RT info:eu-repo/semantics/workingPaper
T1 Terms of trade cycles in extreme land abundant countries, 1870-2009. Spectral analysis
A1 Arrufat, José Luis
A1 Martín Díaz Cafferata, Alberto
A1 Viceconte, José Antonio
K1 Terms of trade
K1 Cycles
K1 Land abundance
K1 Policy
K1 Export specialization
K1 Volatility
K1 Spectral analysis
K1 Frequency domain
K1 Argentina
K1 Australia
K1 Canada
K1 New Zealand
K1 Uruguay
K1 C22
K1 F10
K1 F11
K1 F14
K1 F44
K1 Economía
K1 Economics
K1 Sociología
K1 Sociology
AB Spectral analysis is applied to the empirical identification of terms of trade cycles, in the secular evolution, 1870-2009, of a group of extreme-land-abundant countries: Argentina, Australia, Canada, New Zealand, and Uruguay. Estimates of the power density spectrum functions produce statistically significant spectral peaks associated with long-run cycle periods between 24 and 56 years, with a mode of about 28 years for all five countries, and the variance decomposition shows that these long-run cycles account for a very substantial fraction, between 68% and 83%, of the TOT total variance. These results are very robust to changes in the choice of truncation lag, as well as to the type of spectral window (Parzen and Bartlett) used in the estimations.
PB Universidad de Alcalá. Instituto Universitario de Análisis Económico y Social
YR 2011
FD 2011
LK http://hdl.handle.net/10017/10143
UL http://hdl.handle.net/10017/10143
LA eng
DS MINDS@UW
RD 20-abr-2024