A SARIMA Fit to Monthly Nigerian Import Commodity Price Indices
|Author(s)||by Ette Harrison Etuk, Belief Nsirimobi Elenga, Maxwell Awoingo Adonijah, Wokoma Dagogo Samuel Allen , Felicia Ette Etuk|
|Keywords||Import Commodity Price Indices, SARIMA models, Nigeria|
|Open Access||Access PDF Open in New Tab|
This work involves the modelling of monthly Nigerian import commodity price indices. The actual realization analyzed is from 2000 to 2012 with January 2007 as the base period. The time plot shows a generally upward trend with no clear seasonal pattern. However an inspection of the series reveals a seasonal pattern, ten of the thirteen yearly minimums lying in the first half of the year and eight of the yearly maximums lying in the last third of the year. Twelve-monthly differencing of the series yields another series with a flatter trend and still an unclear seasonality. Augmented Dickey-Fuller (ADF) tests adjudge both of the above-mentioned series as non-stationary. Non-seasonal differencing of the seasonal differences yields a series which is considered stationary by the ADF tests. From its correlogram the suggestive models are SARIMA(0, 1, 1)x(0, 1, 1)12 model and SARIMA(0, 1, 1)x(1, 1, 1)12 model. The estimate of the first model is non-invertible. The estimate of the second model is found to have uncorrelated residuals. Hence it is adequate. Forecasting of the series may be done on its basis.
ARTICLE PROCESSING CHARGE
Online Publication & Two Hard Copies
|International Journal of Empirical Finance||$ 100||$ 170|
|International Journal of Financial Economics||$ 80||$ 150|
|International Journal of Management Sciences||$ 100||$ 170|
|Journal of Empirical Economics||$ 80||$ 150|
|Journal of Education and Literature||$ 60||$ 130|
|Quarterly Journal of Business Studies||$ 50||$ 120|
|Journal of Language and Communication||$ 30||$ 100|
|Studies in Social Sciences and Humanities||$ 80||$ 150|
|Journal of Social Economics||$ 30||$ 100|
|International Journal of Financial Markets||$ 30||$ 100|
|Journal of Public Policy & Governance||$ 30||$ 100|
For a peer-reviewed journal, the publication of articles plays an essential role in the development of a coherent network of knowledge. It is, therefore, essential that all publishers, editors, authors, and reviewers, in the process of publishing the journals, conduct themselves in accordance with the highest level of professional ethics and standards. The publisher is dedicated to supporting the vast efforts of the editors, the academic contributions of authors, and the respected volunteer work undertaken by reviewers. The publisher is also responsible for ensuring that the publication system works smoothly, and that ethical guidelines are applied to assist the editor, author, and reviewer in performing their ethical duties.
The editor has the following responsibilities:
1.The editor should acknowledge receipt of submitted manuscripts within two working days of receipt and ensure an efficient, fair, and timely review process.
2.The editor should ensure that submitted manuscripts are processed in a confidential manner, and that no content of the manuscripts will be disclosed to anyone other than the corresponding author, reviewers, and the publisher, as appropriate.
3.The editor should recuse himself or herself from processing manuscripts if he or she has any conflict of interest with any of the authors or institutions related to the manuscripts.
4.The editor should not disclose the names and other details of the reviewers to a third party without the permission of the reviewers.
5.The editor has the right to make the final decision on whether to accept or reject a manuscript with reference to the significance, originality, and clarity of the manuscript and its relevance to the journal.
6.The editor should by no means make any effort to oblige the authors to cite his or her journal either as an implied or explicit condition of accepting their manuscripts for publication.
7.The editor should not use for his or her own research any part of any data or work reported in submitted and as yet unpublished articles.
8.The editor should respond promptly and take reasonable measures when an ethical complaint occurs concerning a submitted manuscript or a published paper, and the editor should immediately contact and consult with the author. In this case, a written formal retraction or correction may also be required.