The Prebisch-Singer (PS) hypothesis, which postulates the presence of a downward secular trend in the price of primary commodities relative to manufacturers, remains at the core of a continuing debate among international trade economists. The reason is that the results of testing the PS...

The recent rise of digital technology has enabled the development of various online platforms that gave rise to the so-called sharing economy. Academics suggest that this economy is causing a switch in consumer behaviour. This paper attempts to test this hypothesis by fitting a smooth transition...

This paper proposes a novel approach of classifying and modeling the nonlinear behavior of commodity prices using regime-switching models with exogenous transition variables. The approach rests on using the International Commercial Terms (Incoterms), also known as border prices, to classify...

In finance, investment decisions are commonly based on Markowitz's ex-ante mean-variance (MV) portfolio problem. The static ex-post trading problem, however, is completely absent. In this paper, we propose a theoretical extension of the MV framework by adding a time dimension so that the...

We measure sentiment towards physical and regulatory aspects of climate change by constructing several Climate-Related Investor Sentiment Excerpted by Search (CRISES) indexes using machine learning and text mining techniques on a wide range of social media platforms and news outlets. We quantify...

We posit that climate risk is a plausible determinant of clean energy prices. Using a recent novel climate-related investor sentiment excerpted by search (CRISES) data set, we construct several daily physical and transition climate risk indexes between October 13, 2010, and June 24, 2022. We use...