A panel data approach to price-value correlations
AbstractResorting to stationary and non-stationary panel data econometrics we offer tests for "Ricardo's 93% theory of value" for 10 OECD countries over different time periods and aggregation levels. The theory does not find empirical support.
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Bibliographic InfoPaper provided by University of Verona, Department of Economics in its series Working Papers with number 14/2011.
Date of creation: Oct 2011
Date of revision:
value; price; fixed effects model; random effects model; panel unit root tests; panel cointegration tests.;
Find related papers by JEL classification:
- C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
- C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
- C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
- D46 - Microeconomics - - Market Structure and Pricing - - - Value Theory
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- Andrea Vaona, 2012. "Price-price deviations are highly persistent - extended version," Working Papers 08/2012, University of Verona, Department of Economics.
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