EXPLORING COPULA MODELS IN ECONOMIC AND BUSINESS FRAMEWORKS

Abstract It is known that the multivariate Poisson distribution, exponential distribution or normal distribution, can be considered as a good model for estimating the joint distribution of abounding microeconomic, macroeconomic and financial variables. But sometimes these distributions may not give good results. This leads to the problem of finding multivariate models that best fit this distribution. One possible way to solve this problem is to use the theory of functions known as copulas. This article discusses the problems of mathematical modeling of economic systems and business processes using the copula method.