Using Regional Cycles to Measure National Business Cycles in the U.S. with the Markov Switching Panel Model
This paper measures the accuracy of using regional cycles to identify national business cycle turning points in the U.S. with the Markov Switching Panel (MSP) model. Based on the MSP model, it is determined that regional cycles are highly capable of identifying national business cycle turning points in the U.S., but the duration of recessions of regional cycles are longer than those of national business cycles.
Volume (Year): 3 (2007)
Issue (Month): 46 ()
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