Copulas having Zero-Isoline and Economic Applications

Daniel Ciuiu

Journal for Economic Forecasting, 2012, issue 2, 103-126

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 .

Keywords: Phillips curve; copula; isolines; zero-isolines (search for similar items in EconPapers)
JEL-codes: C46 C51 E24 E31 (search for similar items in EconPapers)
Date: 2012
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