Advances in Copula Modeling: Review

Abstract: Here, we reviewed numerous works of different authors on Copula modeling. Theoretical developments and applications of Copula modeling in various research papers including past as well as ongoing research work were reviewed and discussed in this paper. In this paper, we mainly focused on the distributional and different properties of Copula and also gave much importance to study the practical applications of Copula modeling in various fields. Also here, we illustrate a real data interpretation on the data representing consumer price index from the year 2013 to 2024 of Rural and Urban areas India.

Keywords: Copula, Copula estimation, Copula modeling