Two-stage estimation using copula function

Maximum likelihood estimation of multivariate distributions needs solving a optimization problem with large dimentions (to the number of unknown parameters) but twoý- ýstage estimation divides this problem to several simple optimizations. ýIt saves significant amount of computational timeý. ýTwo methods are investigated for estimation consistency checký. ýWe revisit Sankaran and Nair's bivariate Pareto distribution as an exampleý. ýTwo data sets (simulated data and real data) have been analyzed for illustrative purposesý.