Abstract:Assuming that the economic variables obey the normal distribution, existing studies often use traditional mean models to explore commodity prices. In fact, the distribution of economic data is often skewed. When the economic data is left‐biased or right‐biased, the quantile regression can more fully characterize the distribution of economic variables, and thus obtain a comprehensive analysis result. Moreover, the coefficient estimates of the quantile regression are more robust than those in the ordinary least … Show more
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