Giordani, P.; Kohn, R.; Dijk, D.J.C. van - Erasmus University Rotterdam, Econometric Institute - 2005
-space models; Markov-switching models; Threshold models; Bayesian
inference; Business cycle asymmetry
JEL Classi cation Codes: C11 … modelling business cycle
asymmetry in output growth yt, where the di erent states of K t correspond with periods
of high and low …