Happiness levels (states) are volatile and often fluctuate between a happy and unhappy state from one day to the next. The reasons for these shifts are mostly unobservable and not predictable. In this paper, we fit a Marko Switching Dynamic Regression Model (MSDR) to better understand the...

Happiness levels (states) are volatile and often fluctuate between a happy and unhappy state from one day to the next. The reasons for these shifts are mostly unobservable and not predictable. In this paper, we fit a Marko Switching Dynamic Regression Model (MSDR) to better understand the...

The Japanese economy experienced a prolonged period of quantitative easing (QE) over the five years from March 2001 to March 2006. The purpose of this paper is to evaluate the direct and exclusive effects of this rather unconventional monetary policy on financial markets, economic activity, and...

The Japanese economy experienced a prolonged period of quantitative easing (QE) over the five years from March 2001 to March 2006. The purpose of this paper is to evaluate the direct and exclusive effects of this rather unconventional monetary policy on financial markets, economic activity, and...