A three-regime business cycle model for an emerging economy
A three-regime business cycle model is proposed based on Minsky financial instability hypothesis. Using this framework and a Markov switching autoregressive model Mexico's business cycle turning points are identified published by the Economic Cycle Research Institute (ECRI).
Volume (Year): 12 (2005)
Issue (Month): 7 ()
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- Jan A. Kregel, 1998.
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- Philip Arestis, 2002. "Financial crisis in Southeast Asia: dispelling illusion the Minskyan way," Cambridge Journal of Economics, Oxford University Press, vol. 26(2), pages 237-260, March.
- Clements, M.P. & Krolzig, H.-M., 1997. "A Comparison of the Forecasting Performance of Markov-Switching and Threshold Autoregressive Models of US GNP," The Warwick Economics Research Paper Series (TWERPS) 489, University of Warwick, Department of Economics.
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- Ferrara, Laurent, 2003. "A three-regime real-time indicator for the US economy," Economics Letters, Elsevier, vol. 81(3), pages 373-378, December.
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