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Copulas having Zero-Isoline and Economic Applications

Author

Listed:
  • Ciuiu, Daniel

    (Technical University of Civil engineering, Bucharest, Institute of Economic Forecasting.)

Abstract

use such copula to model the dependence between two random variables that cannot be both lower than given values, but each can be lower than the corresponding value. This can be used in the Phillips curve. Even we consider the values of inflation and unemployment ent or their rates, there exist a,b ∈R such that the cloud of points around the curve and around the line, respectively, have empty intersection with the set {(U,V)∈R2 U ≤ a,V ≤ b}, but it is possible to have separately U ≤ a or V ≤ b .

Suggested Citation

  • Ciuiu, Daniel, 2012. "Copulas having Zero-Isoline and Economic Applications," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 103-126, June.
    • Handle: RePEc:rjr:romjef:v::y:2012:i:2:p:103-126
    as

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    References listed on IDEAS

    as
    1. Ciuiu, Daniel, 2007. "Gordon and Newell queueing networks and copulas," MPRA Paper 15769, University Library of Munich, Germany, revised May 2009.
    2. Daniel Daianu & Lucian-Liviu Albu, "undated". "Strain and the Inflation - Unemployment Relationship: A Conceptual and Empirical Investigation," Ace Project Memoranda 96/15, Department of Economics, University of Leicester.
    3. Lucian-Liviu Albu, 2006. "Trends in inflation-unemployment relationship before and after accession to EU," Romanian Economic Business Review, Romanian-American University, vol. 1(3), pages 25-33, September.
    4. Mereuta, Cezar & Albu, Lucian liviu & Ciuiu, Daniel, 2010. "Classification of competitiveness types using copula," MPRA Paper 30314, University Library of Munich, Germany, revised Nov 2010.
    5. Nicolas Carnot & Vincent Koen & Bruno Tissot, 2005. "Economic Forecasting," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-00581-5, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Phillips curve; copula; isolines; zero-isolines;
    All these keywords.

    JEL classification:

    • C46 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Specific Distributions
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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