From correlation to dispersion: geometry of the price-value deviation

被引：5

作者：

Diaz, Emilio ^{[1
]}

Osuna, Ruben ^{[2
]}

机构：

[1] Univ Seville, Dept Appl Econ, Seville 41018, Spain

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

来源：

EMPIRICAL ECONOMICS | 2009年 / 36卷 / 02期

关键词：

Equilibrium prices; Price-value deviation; Indeterminacy; Geometry of least squares; LABOR VALUES; ROBUST CORRELATIONS; ECONOMY; STATISTICS;

D O I：

10.1007/s00181-008-0203-4

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper deals with the problem of measuring the deviation between different vectors of prices. We analyse both conditional and unconditional measures of the price-to-price deviation by using the geometry of least squares as an auxiliary tool. We discuss two fundamental types of measure: the correlation between two different sets of prices, and the dispersion in a set of ratios between pairs of prices. We show that none of these measures can be used to estimate the actual degree of disequilibrium in a real system of prices, due to a problem related to the selection of measurement units.

引用

页码：427 / 440

页数：14

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