Journal Article
A Panel Data Approach to Price-Value Correlations
Resorting to stationary and non-stationary panel data econometrics we offer tests for "Ricardo's 93% theory of value" for 10 OECD countries over different time periods and aggregation levels. The theory does not find empirical support.
Key Words
- fixed effects model
- panel cointegration tests
- panel unit root tests
- price
- random effects model
- value