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Model consistent learning and regime switching in the London Business School model

✍ Scribed by S.G. Hall; A. Garratt

Book ID
116117436
Publisher
Elsevier Science
Year
1995
Tongue
English
Weight
810 KB
Volume
12
Category
Article
ISSN
0264-9993

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πŸ“œ SIMILAR VOLUMES

Can regime-switching models reproduce th
Can regime-switching models reproduce the business cycle features of US aggregate consumption, investment and output?
✍ Michael P. Clements; Hans-Martin Krolzig πŸ“‚ Article πŸ“… 2004 πŸ› John Wiley and Sons 🌐 English βš– 195 KB πŸ‘ 1 views

## Abstract The ability of Markov‐switching (MS) autoregressive models to replicate selected classical business cycle features found in US post‐war consumption, investment and output is compared to that of linear models. Univariate MS models appear to offer more dynamically parsimonious representat