in both series, we introduce a multivariate Markov trend model, which accounts for different growth rates in consumption … disposable income and consumption, after correction for a multivariate Markov trend. This results is also obtained when per … Markov trend are modeled by a vector autoregressive model. Bayes estimates of this model are obtained using Markov chain …

in both series, we introduce a multivariate Markov trend model, which accounts for different growth rates in consumption … disposable income and consumption, after correction for a multivariate Markov trend. This results is also obtained when per … Markov trend are modeled by a vector autoregressive model. Bayes estimates of this model are obtained using Markov chain …

rates in both series, we introduce a multivariate Markov trend model, which allows for different growth rates in consumption … and income during expansions and recessions. The deviations from the multivariate Markov trend are modelled by a vector … for a multivariate Markov trend.<BR><BR> …