both cases. Keywords: Inequality, human capital, economic history, copula function JEL Classifications: D31, E27, F …

copula can be defined as an arbitrary distribution function on [0,1]d with all margins being uniform. The copula function …. The d-dimensional Archimedean copula function C : [0,1]d → [0,1] is defined as C(u1,...,ud) = φ{φ−1(u1) +···+φ−1(ud)}, u1 … monotonic derivatives for i = 1, ..., d−1, then (17) is a proper copula function. Note that generators φi within a HAC can come …

can be used to construct new multivariate distri- butions by changing either the copula function or marginal distributions … copula function are (x; ) = ( x+ 1) 1 ; 1 <1; 6= 0; x2[0;1); C (u1;:::;ud) = ( dX j=1 u j ! d+ 1 ) 1 : The Clayton … fully nested case of the copula function is: C(u1;:::;ud) = d 1 1d 1 d 2 :::[ 12 1f 11 (u1) + 11 (u2)g + 12 (u3 …

structure between the volatility and vol- ume in terms of copula function, deriving the likelihood from the infinite AR rep … covariance (ϕ) and the nuisance parameters (ν). We specify the joint multivariate density by means of a copula function density … described above, for each choice of the copula function. Appendix B reports the log likelihood functions for each copula …