Can we trust in cross-sectional price-value correlation measures?: Some evidence from the case of Spain

被引：3

作者：

Díaz, E ^{[1
]}

Osuna, R

机构：

[1] Univ Seville, Dept Econ Aplicada 2, Seville, Spain

[2] Univ Nacl Educ Distancia, Dept Anal Econ 1, E-28040 Madrid, Spain

来源：

JOURNAL OF POST KEYNESIAN ECONOMICS | 2005年 / 28卷 / 02期

关键词：

aggregation problem; price; spurious correlation; value;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The literature on price-value relations has frequently used correlation measures in testing the theory of labor value-that is, values are good proxies to prices or alternatively, they explain, in some sense, prices. However several authors have detected important problems that affect those measures-particularly, a problem of spurious correlation that invalidates the statistical results typically obtained in the literature. In this paper we show, using data from Spain (1986-94), that spurious correlation cannot be empirically treated, due to a more general problem of indeterminacy affecting any correlation measure.

引用

页码：345 / 363

页数：19

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