Veenstra, Albert Willem; Franses, Philip Hans - In: Transportation Research Part A: Policy and Practice 31 (1997) 6, pp. 447-458
In this paper, a vector autoregressive model is developed for a sample of ocean dry bulk freight rates. Although the series of freight rates are themselves found to be non-stationary, thus precluding the use of many modelling methodologies, evidence provided by cointegration tests points to the...