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The aim of this paper is to show the usefulness of Finite Mixture Markov models (FMMM) for regional analysis. FMMM combine clustering techniques and Markov Switching models, providing a powerful… Click to show full abstract
The aim of this paper is to show the usefulness of Finite Mixture Markov models (FMMM) for regional analysis. FMMM combine clustering techniques and Markov Switching models, providing a powerful methodological framework to jointly obtain business cycle datings and clusters of regions that share similar business cycle characteristics. An illustration with European regional data shows the good performance of the proposed method.
Keywords:
business cycles;
business;
regional business;
clustering regional
Journal Title: Economics Letters
Year Published: 2018
Link to full text (if available)
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Journal Title: Economics Letters
Year Published: 2018
Link to full text (if available)
Share on Social Media: Sign Up to like & get
recommendations!