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

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  • Emilio Díaz
  • Rubén Osuna

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Suggested Citation

  • Emilio Díaz & Rubén Osuna, 2009. "From correlation to dispersion: geometry of the price-value deviation," Empirical Economics, Springer, vol. 36(2), pages 427-440, May.
    • Handle: RePEc:spr:empeco:v:36:y:2009:i:2:p:427-440
    DOI: 10.1007/s00181-008-0203-4
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    References listed on IDEAS

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    1. Lefteris Tsoulfidis, 2002. "Values, prices of production and market prices: some more evidence from the Greek economy," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 26(3), pages 359-369, May.
    2. Steedman, Ian & Tomkins, Judith, 1998. "On Measuring the Deviation of Prices from Values," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 22(3), pages 379-385, May.
    3. Cockshott, W Paul & Cottrell, Allin F, 1997. "Labour Time versus Alternative Value Bases: A Research Note," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 21(4), pages 545-549, July.
    4. Emilio Díaz & Rubén Osuna, 2007. "Indeterminacy in price–value correlation measures," Empirical Economics, Springer, vol. 33(3), pages 389-399, November.
    5. W. Paul Cockshott & Allin Cottrell, 2003. "A note on the organic composition of capital and profit rates," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 27(5), pages 749-754, September.
    6. Andrew J. Kliman, 2005. "Reply to Cockshott and Cottrell," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 29(2), pages 317-323, March.
    7. Parys, Wilfried, 1982. "The Deviation of Prices from Labor Values," American Economic Review, American Economic Association, vol. 72(5), pages 1208-1212, December.
    8. W. Paul Cockshott & Allin Cottrell, 2005. "Robust correlations between prices and labour values: a comment," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 29(2), pages 309-316, March.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Vaona, Andrea, 2015. "Price–price deviations are highly persistent," Structural Change and Economic Dynamics, Elsevier, vol. 33(C), pages 86-95.
    2. Andrea Vaona, 2014. "A panel data approach to price–value correlations," Empirical Economics, Springer, vol. 47(1), pages 21-34, August.
    3. 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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    More about this item

    Keywords

    Equilibrium prices; Price-value deviation; Indeterminacy; Geometry of least squares; C21; C53; C52; D46;
    All these keywords.

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory

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