Kim, Chang-jin (contributor); Morley, James C. (contributor) - 2003 - [Elektronische Ressource], rev
threshold models, we relate the “bounce-back” effect to an endogenously estimated
unobservable Markov-switching state variable …. When the model is applied to U.S. real
GDP, we find that the Markov-switching regimes are closely related to NBER …-dated
recessions and expansions. Also, the Markov-switching form of nonlinearity is
statistically significant and the “bounce …