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State-Space Models With Regime Switching Classical and Gibbs-Sampling Approaches With Applications

by Charles R. Nelson

  • ISBN: 9780262112383
  • ISBN10: 0262112388

State-Space Models With Regime Switching Classical and Gibbs-Sampling Approaches With Applications

by Charles R. Nelson

  • List Price: $75.00
  • Binding: Hardcover
  • Publisher: Mit Pr
  • Publish date: 05/01/1999
  • ISBN: 9780262112383
  • ISBN10: 0262112388
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Description: Both state-space models and Markov switching models have been highly productive paths for empirical research in macroeconomics and finance. This book presents recent advances in econometric methods that make feasible the estimation of models that have both features. One approach, in the classical framework, approximates the likelihood function; the other, in the Bayesian framework, uses Gibbs-sampling to simulate posterior distributions from data.
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