Hernández-del-Valle, Adrián - In: El Trimestre Económico LXXVI (3) (2009) 303, pp. 619-643
We propose a structural breakpoint resampling method that allows us to draw reliable conclusion from Markov chain analysis of GDP growth series, and apply it to Mexico and the U.S. According to our findings, the “structural” probability of a real GDP contraction in the U.S. in 2008 is only...
