TY  - RPRT
        AU  - Agnese, Pablo
AU  - Garcia-del-Barrio, Pedro
AU  - Gil-Alana, Luis A.
AU  - Gracia, Fernando Perez de
        TI  - Precious Metal Prices: A Tale of Four U.S. Recessions
        PY  - 2023/Mar/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 16012
        UR  - https://www.iza.org/publications/dp16012
        AB  - This paper empirically examines the degree of persistence in four precious metal prices (i.e., gold, palladium, platinum, and silver) during the last four U.S. recessions. Unit root tests and fractional integration techniques suggest that gold still is the most prominent safe haven asset within this particular asset class. Our analysis highlights gold's traditional role as a hedge against market uncertainty in post-pandemic new era, thus retaining its status quo as a store of value during economic contractions.
        KW  - precious metal prices
KW  - U.S. recessions
KW  - persistence
KW  - COVID-19
        ER  -