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

[1]

Cockshott WP(1995)Testing Marx: some new results from UK data Capit Class 55 103-129

[2]

Cottrell AF(1997)Labour time versus alternative value bases: a research note Cambridge J Econ 21 545-549

[3]

Michaelson G(2003)A note on the organic composition of capital and profit rates Cambridge J Econ 27 749-754

[4]

Cockshott WP(2005)Robust correlations between prices and labour values: a comment Cambridge J Econ 29 309-316

[5]

Cottrell AF(2005)Can we trust in cross-sectional price–value correlation measures? Some evidence from the case of Spain (1986–1994) J Post-Keynes Econ 28 345-364

[6]

Cockshott WP(2002)The law of value and laws of statistics: sectoral values and prices in the US Economy, 1977–1997 Cambridge J Econ 26 299-311

[7]

Cottrell AF(2004)Spurious value-price correlations: some additional evidence and arguments Res Polit Econ 21 223-239

[8]

Cockshott WP(2005)Reply to cockshott and cottrell Cambridge J Econ 29 317-323

[9]

Cottrell AF(1989)Values, prices, and wage-profit curves in the US economy Cambridge J Econ 13 413-429

[10]

Díaz E(1982)The deviation of prices from labor values Am Econ Rev 72 1208-1212

← 1 2 →