Research of dependency and causality in time series

Dependency and causality analysis are related in the sense that both deal with relationships among variables. The main difference: the observed dependency can be linear or nonlinear, positive or negative but it cannot identify a cause-and-effect relationship, whereas the causality analysis allows to achieve that purpose. The research can be followed to determine the multiple causality, conjectural causality, mutual effect and influence of time factor. The analysis of relationship among macro indicators and stock index could be as an example of the research. Potential customers of this service – business units that see this analysis relevant for the decision making, in forecasting or scenario analysis.