Working paper
Beyond correlation: measuring interdependence through complementarities
- Abstract:
-
Given two sets of random variables, how can one determine whether the former variables are more interdependent than the latter? This question is of major importance to economists, for example, in comparing how various policies affect systemic risk or income inequality. Moreover, correlation is ill-suited to this task as it is typically not justified by any economic objective. Economists' interest in interdependence often stems from complementarities (or substitutabilities) in the environment ...
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- Publication status:
- Published
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Bibliographic Details
- Publisher:
- University of Oxford Publisher's website
- Series:
- Department of Economics Discussion Paper Series
- Publication date:
- 2013-05-22
- Paper number:
- 655
Item Description
- Keywords:
- Pubs id:
-
1143762
- Local pid:
- pubs:1143762
- Deposit date:
- 2020-12-15
Terms of use
- Copyright date:
- 2013
- Rights statement:
- Copyright 2013 The Author(s)
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