The problem of optimal decision between unit roots, trend stationarity and trend stationarity with structural breaks is considered. Each of three classes is represented by a hierarchically random process whose parameters are distributed in a non-informative way based on a simple rule. Given a...

We assess market integration and price transmission of perishable agricultural produce in Sub-Saharan Africa by studying Ghanaian tomato markets which are characterized by pronounced seasonality in production and trade flows. We analyse the tomato markets of Ghana by simultaneously regarding its...

Time series is a collection of observations made at regular time intervals and its analysis refers to problems in correlations among successive observations. Time series analysis is applied in all areas of statistics but some of the most important include macroeconomic and financial time series....

The class of periodic autoregressive (PAR) models, suitably extended so as to allow for 'periodic integration', has recently found widespread application to economic time series as an alternative to the time-invariant models available in the literature. An elaborate modelling strategy has been...