Indeterminacy in price–value correlation measures

被引：4

作者：

Emilio Díaz

Rubén Osuna

机构：

[1] University of Seville,Department of Applied Economics

[2] UNED,Department of Economic Analysis

来源：

Empirical Economics | 2007年 / 33卷

关键词：

Value; Price; Indeterminacy; Spurious correlation; C21; C43; C52; D46;

D O I：

暂无

中图分类号：

学科分类号：

摘要：

During the last 20 years, an important body of literature on the so-called ‘Ricardo’s 93% theory of value’ – the classical hypothesis which asserts that direct prices are very good predictors of both production prices and market prices – has shown that the hypothesized strong correlation in fact holds in the context of cross-sectional data. However, these empirical results are extremely dubious due to severe problems that cause indeterminacy and arbitrariness in the measures of correlation usually employed.

引用

页码：389 / 399

页数：10

共 20 条

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